Danish AI-driven insights startup boosts total funding to $64.5M with latest debt financing round

Originally published here at Arctic Startup

GetWhy, a Copenhagen-based AI-powered consumer insights platform, has secured $8.45 million (60 million DKK) in debt financing from CIBC Innovation Banking. This follows its $34.5 million Series A round from PeakSpan Capital in 2024, bringing its total funding to $64.5 million. The company develops AI-driven tools for qualitative consumer research, offering video-based insights at a lower cost and faster turnaround than traditional methods. The funding will support GetWhy’s expansion efforts and further development of its AI platform as it continues working with Fortune 100 brands to analyze consumer behavior.

Founded in 2018 by Casper Henningsen and Jonas Alexandersson, GetWhy focuses on redefining qualitative research with a consumer-centric approach. The company has developed an AI-powered platform designed to help businesses quickly and cost-effectively gather insights from consumer feedback. GetWhy’s technology streamlines the process by delivering actionable insights in just a few hours, significantly faster than traditional methods. The company emphasizes empathy and authenticity in its operations, driven by core values encapsulated in the acronym H.U.M.A.N., and serves a growing international customer base that includes global brands across various industries.

Niklas Laugesen, General Counsel at GetWhy said: “This support from CIBC Innovation Banking is a testament to the impact GetWhy is making in the AI-driven insights space. With this funding, we’re positioned to further accelerate our mission of delivering unparalleled speed and precision to brands worldwide, helping them stay agile and ahead of the curve in an ever-changing market.”

GetWhy’s proprietary AI engine, developed over five years, helps global brands—including many from the Fortune 100—better understand consumer behaviors and preferences. This accelerates go-to-market strategies, allows for deeper exploration of hard-to-reach demographics, and improves marketing efforts across different countries. By providing insights within 24 hours, GetWhy empowers businesses to act quickly and make informed decisions, further positioning itself as a leader in transforming consumer research.

Charlotte Goggin, Director at CIBC Innovation Banking said: “In a world where consumers are constantly exposed to new content and messaging, businesses must stay agile and adapt their strategies to shifting trends. GetWhy provides detailed analysis, delivering insights within a competitive time frame. We’re excited to support GetWhy as it continues its growth journey.”