NEWS11 June 2024

$34.5m funding injection for GetWhy

AI Europe Financials News Technology

DENMARK – Copenhagen-based consumer research technology company GetWhy has secured a $34.5m Series A investment from PeakSpan Capital.

pile of coins and financial graphs

GetWhy uses a proprietary AI-powered qualitative research platform to conduct and analyse insights for consumer brands, including Nike, Heineken, Coty, The Coca-Cola Company, adidas, Carlsberg Group, and Unilever.

As a result of the funding, PeakSpan now holds a significant minority stake in GetWhy.

“The investment is a milestone for GetWhy and marks a new era, not only for our company but for the field of consumer research as well,” said GetWhy founder and chief executive Casper Henningsen.

“Because of the insights our proprietary AI engine can deliver, companies are now able respond to the need of consumers faster than ever. This will ultimately heighten the consumer experience as a whole.”

GetWhy has invested $30m and spent five years developing its platform, and has trained its generative AI model on over 250,000 qualitative research sessions.

PeakSpan has a long track record of investing in innovative B2B software companies.

Phil Dur, co-founder and managing partner of PeakSpan Capital, said: “From our very first meeting with the GetWhy team, we were inspired and energised both by the quality of the company’s solution, and the opportunity GetWhy has to change the way that best-in-class brands think about the qualitative research challenge.”