Milieu Insight, a Singapore-based market research and data platform, announced today that it has raised $2.4 million in pre-A funding. The round, led by MassMutual Ventures Southeast Asia, will be used on product development and to launch in four new Southeast Asian countries, Malaysia, Indonesia, the Philippines and Vietnam. The startup’s platform, called Milieu Surveys, is already available in Singapore and Thailand and has signed more than 45 clients.
This brings Milieu Insight’s total funding so far to $3.15 million, including a seed round announced in November 2018. Founded in December 2016 by CEO Gerald Ang, who previously worked at global research firms including GfK and YouGov, Milieu Insight seeks to make market research and data analysis accessible to smaller businesses and organizations. Milieu Portraits, its consumer segmentation tool, returns insights about specific demographics, including what products, media and brands they prefer, while Milieu Studies allows companies to create their own studies.
COO Stephen Tracy told TechCrunch in an email that the startups’ four new markets were picked because “they are in high demand among existing research buyers who want to study consumer trends, particularly because the market dynamics in these countries are evolving fast.” Milieu focuses