Funds for Ambitious AI Research Tech Firm GetWhy

Danish GenAI-based consumer research tech company GetWhy has raised EUR 17m in an additional Series A round of funding, with which to pursue its goal of 'becoming the standard in AI-driven consumer insights' - and specifically to open a US office this year.

The company taps AI to help clients conduct studies and extract insights from video-based interviews. Based in Copenhagen, it was established in 2011 as UserTribe, and pivoted from an MR services company to a software-based model, with the new name Sonar, after current CEO Casper Henningsen joined in 2017. In January 2024 it changed its name to GetWhy to avoid confusion with another company, and a year ago it secured $34.5m in Series A funding from PeakSpan Capital, which took a 'significant' minority stake in the company.

The new funding was also led by PeakSpan, along with Arbejdernes Landsbank. Co-founder and CEO Casper Henningsen (pictured) comments: 'This increased investment from PeakSpan Capital underscores how rapidly the field of consumer research is evolving and gives GetWhy the fuel to accelerate our mission and cement our leadership position globally. We see a clear opportunity to lead the enterprise market and drive AI-fueled transformation for a vast universe of global brands.'

Of the forthcoming office launch, Henningsen says, 'It's crucial for GetWhy to establish a presence in the US... Some 60 % of our revenue comes from here, so this is a natural and necessary step for us to get closer to our current and potential American customers and solidify our position as a market leader driving the industry forward.'

The firm is online at www.getwhy.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.