Milieu Insight, a Singapore-based market research and knowledge platform, introduced in the present day that it has raised $2.4 million in pre-A funding. The spherical, led by MassMutual Ventures Southeast Asia, will probably be used on product growth and to launch in 4 new Southeast Asian countries, Malaysia, Indonesia, the Philippines and Vietnam. The startups platform, known as Milieu Surveys, is already obtainable in Singapore and Thailand and has signed more than 45 purchasers.
This brings Milieu Insights complete funding to date to $3.15 million, together with a seed spherical introduced in November 2018. Based in December 2016 by CEO Gerald Ang, who beforehand labored at world research corporations together with GfK and YouGov, Milieu Insight seeks to make market research and knowledge evaluation accessible to smaller companies and organizations. Milieu Portraits, its shopper segmentation device, returns insights about particular demographics, together with what merchandise, media and types they like, whereas Milieu Research permits firms to create their very own research.
COO Stephen Tracy advised TechCrunch in an e-mail that the startups’ 4 new markets have been picked as a result of “they’re in excessive demand amongst current research consumers who need to examine shopper traits, significantly as a result of the market dynamics in these countries are evolving quick. Milieu focuses solely on cellular knowledge since smartphone penetration continues to be rising shortly in many Southeast Asian markets.
He added one different dynamic that makes us significantly enthusiastic about increasing throughout Southeast Asia is that, by means of our funding in tech and automation, have been ready to promote market research options at significantly more inexpensive value factors (i.e. research research as little as US$350). That means our platform can even activate new spending amongst companies/organizations who couldnt beforehand afford it, corresponding to charities/non-profits, educational establishments and startups.”
Milieu Insights rivals embrace conventional research corporations like Kantar and YouGov for Milieu Research and World Net Index for Milieu Portraits. Tracy says the startups aggressive edge is its end-to-end resolution. That’s, theres no different firm that gives a single platform that connects an viewers (i.e. our managed shopper panel) with a SaaS service that enables you to entry shopper profiling knowledge on-demand in addition to launch bespoke shopper research and get outcomes in just some hours, all inside a self-serve setting.
In a press assertion, MassMutual Ventures managing director Anvesh Ramineni mentioned “Milieus impressive team has built a world-class product, making market research services affordable, accessible and more relevant in todays mobile first landscape. We are pleased to lead Milieus current round and look forward to supporting the company as it scales across the region.”