Data firm Milieu Insight bags US$2.4m funding for SEA expansion

Consumer data and analytics firm Milieu Insight has bagged US$2.4 million in funding from its latest pre-series A round led by Singapore-based MassMutual Ventures (MMV) Southeast Asia. With the secured funding, Milieu Insight aims to drive its Southeast Asia expansion into four new markets, which includes Malaysia, Indonesia, Philippines and Vietnam. The funds will also be used to further develop and enhance its product offering.

The firm was founded in December 2016 by Gerald Ang, who previously held senior positions at global research companies such as GfK and YouGov. Through technology and a strong focus on user experience, Milieu utilises its suite of products to acquire high-value consumer insight in near real-time. Its product portfolio is comprised of two key offerings such as consumer segmentation tool Milieu Portraits and a bespoke research offering known as Milieu Studies.

CEO and founder Gerald Ang said the firm looks to build on its initial success in Singapore and Thailand through its regional expansion, and to continue pursuing its vision of building a consumer insights platform that delivers on the promises of being a data-driven business.

"I founded Milieu because I realised there was an enormous gap between the needs of businesses today when it comes to data-driven decision making, and how research providers currently service them. Our product was designed to empower businesses with insight exactly when they need it, and to ensure high quality research solutions are accessible to all businesses, regardless of their size, budgets or research capabilities," he added.

Meanwhile, MassMutual Ventures managing director, Anvesh Ramineni said Milieu's team has built a product that makes market research services affordable, accessible and more relevant in today's mobile first landscape. "We are pleased to lead Milieu's current round and look forward to supporting the company as it scales across the region," he added.