Home research company Consumer research firm Milieu Insight wins $ 5 million in latest funding

Consumer research firm Milieu Insight wins $ 5 million in latest funding

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Consumer research and analysis firm Milieu Insight secured US $ 5 million in its latest round of funding, led by MassMutual Ventures Southeast Asia. The funds will be used to strengthen product innovation and accelerate the development of new SaaS-oriented consumer knowledge offerings. Milieu said in a statement that the funding is due to its strong growth in 2021 so far. OSK Ventures International Berhad and Genesis Alternative Ventures also participated in the financing, as well as several private investors.

Funds from this cycle will also be used to expand Milieu’s reach beyond Southeast Asia. Since its previous funding round in October 2019, the company has expanded its business operations to six markets: Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

Milieu has experienced significant growth over the past two years, quadrupling its revenues since its last round of funding. The company also saw its mobile app’s user base grow from 500,000 in 2019 to over two million in 2020, and increased its customer base from 45 business customers in 2020 to 180 in October 2021. In addition , Milieu recently launched an automated brand tracking solution, and Milieu Activate – a programmatic activation that enables advertisers to target mobile ads more effectively.

Milieu Insight Founder and CEO Gerald Ang (center photo) said that as consumer preferences and behaviors rapidly evolve, he sees a tremendous opportunity to revolutionize market research to better meet the needs of consumers. business leaders today. “We have demonstrated sustained growth and this is testament to the resilience of our business model. COVID-19 has accelerated the rise of the digital economy and we will continue our mission to use technology to enable organizations to connect with consumers at one. Over time, we hope to inspire change on a global scale by sparking meaningful conversations every day between brands and their customers around the world, ”he added.

Founded in 2016, Milieu Insights directly connects businesses with their target audience for market research, using its proprietary Milieu Surveys mobile app to collect consumer opinion data on a multitude of lifestyle topics and sectors. The company is headquartered in Singapore and currently leads a team of around 100 people in its offices in South East Asia. It has also won industry awards since 2019, including INTERACTIVE-MARKETINGMarket research and programming agency of the year, as well as several mobile experience awards.

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