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GetWhy, a market research AI platform that extracts insights from video interviews, raises $34.5M | TechCrunch

Jun 04, 2024 - techcrunch.com
GetWhy, a Danish consumer research tech company, has raised $34.5 million in a Series A funding round led by California-based VC firm, PeakSpan Capital. The company uses AI to extract insights from video-based interviews for market studies, and counts Nestlé, McDonald’s, Nike, and L’Oréal among its clients. Its AI platform, Bloom, is trained to analyze video responses and present qualitative insights, a process that would normally take a human researcher days or weeks, but which the AI can complete in less than 25 minutes.

The company was initially founded as UserTribe in 2011 and operated as a consultancy before transitioning into a technology company with a focus on AI under the leadership of CEO Casper Henningsen. The Series A funding is GetWhy's first major round of institutional funding, but it has previously raised around $30 million from various sources. This brings the company's total funding to $64.5 million.

Key takeaways:

  • Consumer research tech company GetWhy has raised $34.5 million in a Series A funding round led by PeakSpan Capital.
  • GetWhy's platform uses AI to analyze video responses to questions and presents these as qualitative insights, a process that can be completed in less than 25 minutes.
  • The company, originally founded as UserTribe in Denmark in 2011, transitioned from a consultancy to a technology company with AI at its core under the leadership of CEO Casper Henningsen.
  • GetWhy's total funding now stands at $64.5 million, with previous funding coming from Scandinavian business angels, AL Bank, and the Danish Growth Fund.
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