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GetWhy Raises $34.5M for AI Market Research

GetWhy, a pioneering tech firm in consumer research, has secured a remarkable $34.5 million in Series A funding
June 5, 2024

GetWhy, a tech firm revolutionizing consumer research with AI-driven market studies from video interviews, recently secured a staggering $34.5 million in its Series A funding round led by PeakSpan Capital, based in California.

This significant investment underscores the growing enthusiasm among investors for AI-driven innovations, especially those making waves with prominent clientele. GetWhy boasts an impressive roster of customers, including industry giants like Nestlé, McDonald’s, Nike, and L’Oréal.

At the heart of GetWhy’s platform is its capability to streamline market research processes. Users can articulate their research objectives, and the platform's AI swiftly generates a tailored market study template. Participants can then upload materials for testing, such as visuals or slogans, while leveraging GetWhy's global consumer panels for recruitment. The company prides itself on its rapid turnaround, completing projects within a remarkable 24-hour window.

Jonas Nielsen, Chief Marketing Officer at GetWhy, explains, “Our platform seamlessly integrates with global consumer panels, and we employ a dedicated recruitment team to ensure swift participant recruitment. Interviews are conducted online via video, capturing insights from desktop or mobile devices.”

A standout feature of GetWhy is its AI engine, Bloom, which analyzes video responses to questions, distilling them into qualitative insights. Bloom’s advanced AI model, trained on extensive interview data, expedites the analysis process. “Traditionally, this analysis would require days or weeks, but Bloom delivers results in under 25 minutes,” adds Nielsen.

In essence, GetWhy's AI combs through video content, extracting pertinent quotes, and identifying patterns to deliver actionable insights.

This milestone for GetWhy reflects the broader trend of AI permeating various sectors, including consumer research, to enhance efficiency. With AI-driven solutions like GetWhy and similar innovations, the industry is poised for transformative growth.

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