GetWhy, a Copenhagen-based AI consumer research technology company, has successfully acquired around $8.4 million in debt financing from CIBC Innovation Banking. The strategic investment is expected to fuel GetWhy’s high-growth plans and enhance its innovative agentic AI, the next-level platform changing the way businesses collect and make sense of consumer insights.

The recent financing round, amounting to 60 million DKK (approximately $8.4 million), was secured through a debt financing agreement with CIBC Innovation Banking. This partnership underscores the financial community’s confidence in GetWhy’s vision and technological prowess. 

The funds are earmarked to accelerate the company’s growth strategy, enabling the expansion of its AI-driven platform and the broadening of its global market reach.

This latest round of funding further embellishes the already impressive financial performance of GetWhy. The company raised a considerable $34.5 million in a Series A funding round in 2024, led by PeakSpan Capital, taking the total funding amount to date up to $64.5 million. The money is an endorsement of the new approach the firm has been implementing in consumer research and the probable impact on industry.

Founded in 2018, GetWhy is now a market research technology trailblazer that emerged rapidly with expertise in applying agentic artificial intelligence to execute video-based interviews on market studies. This process has allowed companies to gain rich and detailed information regarding consumer behaviors, preferences, and motivations more accurately and promptly than ever. 

GetWhy’s proprietary AI engine, developed over five years, enables the platform to deliver actionable insights within an average time of 24 hours. This short turnaround accelerates the decision-making processes for businesses, enabling them to respond to market trends and consumer needs very quickly. The efficiency and effectiveness of the platform have attracted a diverse global clientele, including several Fortune 100 companies.

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Founders and Leadership

Caspir Henningsen and Jonas Alexandersson are the cofounders for GetWhy, the visionary driving force behind its operations. The Chief Executive Officer of the firm, Casper Henningsen has strategic direction and direction for growth to be achieved with his leadership having placed GetWhy at the center of AI-led consumer research

Jonas Alexandersson, as a CXO, brings a competence in user experience and product development into the leadership team. With Henningsen and Alexandersson, the company culture emphasizes empathy for and consumer-centricity, values that are deeply rooted within the GetWhy.io platform and services. 

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Consumer insights through innovative approaches

At the heart of GetWhy’s product lies its agentic AI-powered platform that is aimed to redefine the very boundaries of qualitative research. By allowing video-based interviews, it captures rich and authentic consumer narratives that can offer deeper understanding beyond traditional survey methods. 

The integration of advanced AI algorithms helps extract meaningful patterns and sentiments from the narratives and offers insights that are comprehensive and actionable. 

This innovative approach addresses a critical need in the market for rapid, reliable, and nuanced consumer insights. Businesses can use GetWhy’s platform to inform product development, marketing strategies, and customer engagement initiatives, aligning with consumer expectations and preferences. The fact that the platform delivers insights within a 24-hour window increases agility, giving companies an edge in competitive markets.

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Strategic Expansion and Future Plans

With its new funding in the bank, GetWhy is ready to undertake an aggressive growth plan. It looks forward to rolling out new improvements to its AI platform, ensuring more complex algorithms and able to offer solutions for varying research requirements. The company also looks forward to extending its global reach through new markets and industries where similar products can be beneficial in providing better consumer research.

The company will also build deeper relationships with existing clients as most of them are industry leaders. Constantly refining its platform and services, GetWhy is looking to help its clients especially in consumer behavior complexities occurring in a rapidly changing marketplace.

Industry Impact and Vision

GetWhy’s advancements in AI-driven consumer research are setting new standards in the industry. The company combines the depth of qualitative research with the speed and scalability of AI, providing a unique value proposition that addresses the limitations of traditional market research methods. 

This approach not only enhances the quality of insights but also democratizes access to high-quality consumer research, enabling businesses of all sizes to make informed, data-driven decisions.