Indonesia is likely one of the fastest-growing client markets on the planet, however client information remains to be laborious to search out for a lot of companies, particularly smaller ones. Populix desires to make analysis simpler for corporations, by a respondent app that now has 250,000 customers in 300 Indonesian cities. The startup introduced immediately it has raised $1.2 million in an oversubscribed pre-Collection A spherical led by returning investor Intudo Ventures, with participation from Quest Ventures.
Populix has now raised a complete of $2.3 million because it was based in January 2018, together with a $1 million seed spherical additionally led by Intudo. The corporate’s income grew 5 instances in 2020 and it signed up 52 new enterprise purchasers in 10 international locations, because the COVID-19 pandemic restricted conventional types of client surveys, like in-person questionnaires. Its prospects vary in measurement from tech startups to multinational conglomerates.
The brand new capital can be used for product launches, advertising and marketing and hiring. Populix is at present within the technique of launching a self-service product referred to as Paket Hemat Populix (PHP) for purchasers like SMEs or college researchers that need to conduct their very own surveys and monitor leads to actual time.
The corporate’s co-founders are chief govt officer Timothy Astandu, chief working officer Eileen Kamtawijoyo and chief technical officer Jonathan Benhi. Astandu and Kamtawijoyo met whereas each had been graduate college students in enterprise administration on the College of Cambridge.
“After we had been finding out, we checked out developed markets, and in developed markets, client insights is such an enormous factor that each one the manufacturers are utilizing it already,” stated Astandu. “Nevertheless it’s one thing that’s not obtainable in creating international locations like Indonesia,” the place many corporations nonetheless conduct analysis offline despite its very high smartphone engagement rates. For instance, if a espresso model desires to know client sentiment, it should ship individuals with surveys into a restaurant or grocery retailer and ask prospects to fill them out in return for a small present.
“We felt it was essential to do client sentiment in Indonesia, as a result of it’s going to be an enormous market and Indonesia has seen little or no innovation to date,” Astandu added. “That provides us an opportunity to disrupt it, within the sense that it has at all times catered to the massive purchasers. It’s at all times the multinationals in Indonesia that purchase it, however you’re seeing an rising center class, loads of SMEs and maybe they really want analysis and information greater than large corporations.”
After returning to Indonesia, Astandu and Kamtawijoyo started engaged on a extra correct and accessible various to conventional surveys, creating Populix whereas a part of Gojek’s Xcelerate program. Then they met Benhi, who was beforehand an engineer at Talk about.io, a Seattle-based video platform for client analysis.
Populix’s purchasers conduct analysis by its respondent app, additionally referred to as Populix, which retains customers engaged by every day polls, video games and information, in return for incentives like money presents or rebate packages. Populix might be personalized for a variety of analysis, starting from quick surveys to longitudinal research that happen over a time frame, and is used to trace model well being, put together for product launches or gauge buyer satisfaction. For instance, a espresso model used Populix to see the way it was doing in comparison with rivals on a month-to-month foundation and examine client reactions earlier than launching a ready-to-drink espresso. E-commerce corporations have additionally used it to ask individuals the place they store on-line, what they search for and the way they really feel concerning the buyer expertise on completely different platforms.
“We will pace up the recruitment course of, as a result of we have already got respondents obtainable in our database for virtually any sort of examine,” stated Kamtawijoyo.
Populix is at present creating new merchandise to trace market actions, utilizing information assortment tech like optical character recognition to scan invoices from main e-commerce platforms. It says its information classification system can acknowledge over 73% of all objects on invoices.
Different corporations in the identical area embrace established gamers like YouGov and Kantar, and Singapore-based Milieu Perception, a market analysis and information platform that operates in a number of Southeast Asian international locations. Astandu stated one of many predominant methods Populix differentiates is by specializing in cellular surveys, since Indonesia is the fourth-largest smartphone market on the planet (after China, India and the USA) and the penetration charge remains to be rising.
The founders stated Populix will proceed specializing in Indonesia with its pre-Collection A funding, however plans to take a look at different creating markets with fragmented client information, just like the Philippines and Vietnam, after elevating its Collection A spherical.
In a press assertion, Intudo Ventures founding accomplice Patrick Yip stated, “With client habits present process dramatic modifications in recent times attributable to rising incomes and widespread embrace of digital commerce, Populix is offering purchasers with actionable insights into the most recent consumption traits and developments of Indonesians. We’re excited to double down on our assist for Populix because it continues to roll out new technology-driven client insights merchandise and options to satisfy the wants of purchasers each large and small.”