Middle East Venture Partners (MEVP) led a series B round in US-based software company FADEL and was joined by Kafalat iSME and B&Y Venture Partners.
FADEL was founded by Tarek Fadel in 2003 to provide digital rights management software. The company has an office in Lebanon and plans to use the investment to expand its presence.
Without disclosing the amount, the company stated it would also invest in research and development.
“Our goal is to continue to expand and strengthen our routes to market by adding new partners into our programmes and to continue to expand our presence in the advertising, media and publishing verticals,” said Fadel in a statement.