Copenhagen-based GetWhy has attracted significant attention with its recent $20 million funding round. The funding aims to bolster its innovative AI-driven consumer research capabilities. During recent years, businesses have increasingly turned to technology to gather consumer insights. GetWhy’s approach, using AI to derive insights from video interviews, may alter traditional research methods.
Previously, the consumer research sector relied heavily on surveys and focus groups. GetWhy’s introduction of generative AI offers a potential departure from traditional methods by emphasizing video-based consumer insights. This shift aligns with growing demand for quicker and more connected market analysis. The increasing preference for data-driven decisions within global companies underscores the relevance of this transformation.
Investor Support and Future Plans
The recent funding round, led by PeakSpan Capital, highlights continued investor confidence in GetWhy’s vision. The Series A expansion underscores the company’s commitment to AI innovation at a scale notable in Denmark’s tech landscape. PeakSpan’s co-founder, Phil Dur, noted the company’s cutting-edge approach, stating,
“GetWhy is leading this transformation with their cutting-edge technology and an impressive track record of delivering results for customers of all sizes, especially enterprises.”
With this investment, GetWhy plans to open a new office in the U.S. by 2025. The firm seeks to deepen its influence in a key market, given 60% of its revenue is already U.S.-based. Co-founder and CEO Casper Henningsen emphasized the importance of the expansion, remarking,
“It’s crucial for GetWhy to establish a presence in the U.S., and I’m very pleased that we’re now able to open an office there.”
How Is GetWhy Redefining Consumer Research?
Founded in 2011, GetWhy set out to challenge traditional market research methods by launching its AI platform in 2022. The firm’s focus on combining Agentic AI and human empathy is reshaping the industry landscape. Henningsen shared the firm’s outlook: traditional market research processes are costly and disconnected from modern enterprise needs. By integrating AI, GetWhy aims to offer more synchronized and dynamic insight collection processes.
The company’s platform is already attracting major consumer brands. Partners like Heineken, Nestlé, and The Coca-Cola (NYSE:KO) Company leverage these insights to optimize operations. GetWhy’s methodology enables clients to use real customer voices in decision-making, enhancing the speed and depth of their market studies.
In exploring AI in consumer studies, the sector may see enhanced versatility and agility. Understanding customers’ motivations with AI-driven tools could become integral to strategic moves in large enterprises. The shift towards video-enhanced insights reflects this growing trend and might offer more nuanced understandings than traditional surveys.
