Meeting note-taking tool Otter.ai announced on Tuesday that it has raised $320 million from General Catalyst’s Customer Value Fund. The funding structure provides capital to startups without diluting equity, with returns tied to the results of marketing spend. Otter.ai stated that the new capital will be used to drive enterprise growth, expand international operations, enhance go-to-market strategies, and accelerate product innovation.
The company has reached significant milestones recently, crossing $100 million in annual recurring revenue last year and growing its user base to 40 million people. Operating in a crowded market alongside competitors like Fireflies.ai, Granola, and Read AI, Otter is focusing on workflow automation, cross-app search features, and new functionalities such as pre-briefs and a Live Assist tool for real-time meeting insights.
This funding highlights the growing investor focus on enterprise voice AI tools designed to capture critical data and streamline organizational productivity.