Singapore- and Thailand-based marketing software startup Milieu Insight has announced that it has raised S$1 million (US$730,000) from a group of private investors including former Rippledot Capital Director, Ravi Ravulaparthi.
The company will channel the newly-raised funding to accelerate product development and expand its teams in Singapore and Thailand.
Founded in 2016 by CEO and Co-founder Gerald Ang — who previously held senior positions at market research firms such as YouGov and GfK — Milieu Insight offers a suite of marketing platforms that help companies extract data insights from consumers easily.
Its core product, Canvas, helps businesses build more robust consumer profiles to develop effective marketing campaigns and accurately target their intended audience.
The platform has an online dashboard that lets consumers track consumer traits such as demographics, lifestyle, media and product consumption habits and more.
Canvas offers a mobile app called Milieu Surveys that lets consumers take surveys published by businesses and get rewarded with points that can be redeemed for various types of rewards. This app helps businesses gather more data points from consumers.
Milieu Insight has also launched a service called Studies that enables businesses to launch fast turnaround studies that can measure brand health, ad effectiveness as well as
validate product concepts, all within a self-service platform.
It is designed to simplify tasks related to questionnaire design, scripting and reporting.
“There’s a lot of inefficiency in the research industry’s supply chain today, from pricing audiences to scripting surveys to cleaning and processing data,” said Ang, in an official press release.
“Milieu was founded on the principles of user-centered design and simplicity, and we’ve found some pretty innovative ways to streamline the processes that cut through research design and delivery.”
“This means our customers can quickly and easily acquire high quality and actionable consumer insight exactly when they need it,“ he added.
Milieu Insight manages its own community of panellists that businesses can tap into as means to better understand the attitudes, behaviours and overall profile of their target audience.