Otter.ai Secures $320 Million Investment from General Catalyst Fund

Meeting note-taking tool Otter.ai announced that it has received $320 million in non-dilutive equity financing from General Catalyst's Customer Value Fund.

Meeting note-taking tool Otter.ai announced on Tuesday that it has secured $320 million from General Catalyst’s Customer Value Fund (CVF), which provides capital to startups without equity dilution and takes a share of marketing spend outcomes. The company stated it will use these funds for corporate growth, go-to-market strategy, international expansion, and product innovation.

According to PitchBook data, the startup, which has been operating for about a decade, had raised a total of $50 million with its last round in 2021. Having crossed the $100 million annual recurring revenue (ARR) threshold last year to reach a significant revenue milestone, the company indicated it is approaching new milestones but did not share current figures. Otter.ai announced that its product has grown from 25 million users last year to 40 million users to date.