GetWhy, a leading Danish company in consumer insights powered by generative AI, has secured an additional $20 million investment to propel its groundbreaking approach to market research. The infusion of funds will not only bolster the ongoing Series A round but also fuel the company’s expansion and innovation efforts.
Casper Henningsen, the co-founder and CEO of GetWhy, emphasized the shortcomings of traditional market research methods, highlighting their inefficiency and disconnect from modern business practices. In his words,
“Traditional market research is broken. It’s slow, it’s expensive, and… disconnected from how modern enterprises build products.”
This realization has propelled GetWhy to redefine the landscape of consumer insights.
The recent investment from PeakSpan Capital signifies a pivotal moment in the evolution of consumer research. It underscores the rapid transformation occurring in this sector and offers GetWhy a significant boost to advance its mission and strengthen its global leadership position. As Casper Henningsen noted,
“This increased investment… gives us the fuel to accelerate our mission.”
Phil Dur, Co-founder and Managing Partner at PeakSpan Capital, expressed confidence in the potential impact of AI-powered consumer insights on businesses worldwide. He lauded GetWhy for spearheading this transformation through cutting-edge technology that delivers tangible results for enterprises across various industries.
Operating at the intersection of AI and market research, GetWhy leverages advanced AI models to conduct qualitative studies for top-tier consumer brands swiftly. Through strategic partnerships with industry giants like Heineken, Nestlé, Coca-Cola Company, Adidas, MARS, eBay, and Unilever, GetWhy has experienced remarkable growth by providing unparalleled insights into customer behavior.
Casper Henningsen highlighted the role of AI in reshaping enterprise interactions with customers:
“AI is not here to replace jobs… it enables our customers to operate at unprecedented speed.”
By harnessing video interviews over traditional surveys and incorporating real customer voices into decision-making processes rapidly,
eBay’s experience with GetWhy exemplifies the transformative power of quick access to consumer feedback. Christine Moeller from eBay acknowledged how GetWhy facilitated bringing valuable consumer insights into meetings within days—a feat previously unattainable.
Looking ahead towards further expansion and market penetration strategies,
GetWhy plans to establish a presence in the United States by 2025—an essential move considering that 60% of its revenue emanates from this key market. Casper Henningsen emphasized that opening a US office is imperative for strengthening relationships with existing American clients while tapping into new opportunities for growth.
In essence,
GetWhy’s innovative approach backed by generative AI heralds a new era in market research—one driven by speed,
precision,
and customer-centricity.
With substantial funding injections like this latest one,
the company is poised
to lead
the charge
in transforming how businesses understand their target audiences,
ultimately shaping more personalized products
and services
for tomorrow’s consumers.
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