Milieu Insight, Singapore-based market analysis and data platform, published that it has allocated $2.4 million in pre-A funding.
The round, managed by MassMutual Ventures Southeast Asia, will be utilized on product growth and to launch in four different Southeast Asian countries, Malaysia, Indonesia, the Philippines and Vietnam.
The startup’s program, called Milieu Surveys, is previously available in Singapore and Thailand and has engaged more than 45 clients.
This makes Milieu Insight’s total funding so far to $3.15 million, adding a seed round announced in November 2018.
The Story of Milieu Insight
Established in December 2016 by CEO Gerald Ang, who earlier worked at global research firms including GfK and YouGov, Milieu Insight attempts to make market analysis and data study available to smaller businesses and organizations.
Milieu Portraits, its customer segmentation tool, returns insights about particular demographics, including what goods, media and brands they prefer. Moreover, Milieu Studies enables companies to build their studies.
COO Stephen Tracy mentioned in an email that the startups’ four new markets were chosen because “they are in high demand amongst existing research buyers who want to analyze consumer trends.
This is mainly because the market dynamics in those countries are growing fast.
Milieu concentrates solely on mobile data since smartphone invasion is still rising quickly in many Southeast Asian markets.
Milieu Insight’s Competition
Milieu Insight’s opponents include common research firms like Kantar and YouGov for Milieu Studies. Plus Global Web Index for Milieu Portraits.
Tracy states the startup’s competing edge is its end-to-end resolution. He further said that there is no other company that gives a single platform that connects an audience with a SaaS service.
That lets you obtain consumer profiling data on-demand as well as launch bespoke user studies and see results in only a few hours, all within a self-serve atmosphere.
In a press announcement, MassMutual Ventures managing director Anvesh Ramineni said that Milieu’s excellent team had built a world-class product.
This makes the market research services affordable, convenient and more relevant in today’s mobile-first landscape.
SEE ALSO: TrueLayer, the open banking API provider, reveals financing and partnership with Visa
For more information and the latest tech news, keep reading iTMunch.