InsightzClub, a new startup in Malaysia said it is growing at a rate of 38% on-month since it officially started operations in March this year, and it's on track to achieve its first target sales of $US1 million over the next 12 months. That's according to Padmanabhan Ramaswamy, co-founder and chief executive officer of InsightzClub.
InsightzClub is part of Muru-D accelerator in Singapore, backed by Australia's Telstra which runs one of the best accelerators in the region. The startup, which was co-founded by both Ramaswamy (pictured right) and Mritunjay Kumar (pictured left) focuses on intelligent automation and operates an online platform for market research based on programmatic technology and machine learning.
Since its launch, the company has acquired several blue chip clients across a range of industries spanning media, FMCG, telco, hospitality, consulting and various other industries across Malaysia, Singapore and Indonesia. Its clients in Malaysia includes Colgate, Club Med, Dentsu Aegis Network and Ampersand Advisory, with work ranges from new product development research, advertising effectiveness and market sizing.
Speaking to A+M, Ramawamy said InsightzClub is in the process of expanding across Southeast Asia, adding it has just appointed Bo Murella, a former VP at Nielsen Philippines as the country manager for Philippines.
"We feel that the market is at a stage where there is a need for a tech oriented solution and we have seen a tremendous response in the market so far at this early stage,” he said.
Prior to this, Ramawamy was the head of business intelligence and analytics at GEMFIVE, an e-commerce venture backed by Hong Leong Group for slightly more than two years. He was also the head of insights and analytics at Lazada, Southeast Asia from January 2o14 until February 2015. Other companies he was previously engaged with include IPG Mediabrands, Pointlogic and Nielsen.
Mritunjay, meanwhile, has more than 15 experience in market research, having worked for leading market research agencies such as Kantar, Millward Brown and Nielsen in senior leadership roles. He last held the role of operations director at Kantar Insights for Southeast Asia before setting up InsightzClub.