Otter.ai Raises $320M From General Catalyst’s Customer Value Fund for AI Meeting Tool

Meeting note-taking company Otter.ai announced on Tuesday that it has raised $320M from General Catalyst’s Customer Value Fund (CVF), a financing vehicle that provides non-dilutive capital and generates returns based on marketing spend results. The company crossed $100M in annual recurring revenue (ARR) last year and reported that 40M total users have used its product to date, up from 25M last year, though it did not disclose current monthly active user counts or churn figures. Prior to this financing, the nearly decade-old startup had raised $50M in total equity funding, with its last round completed in 2021, according to PitchBook data. Otter.ai stated it will allocate the capital toward enterprise growth, go-to-market execution, international expansion, and new product features, including pre-meeting context briefs and a Live Assist tool for querying its AI assistant during live calls. "When Otter enables enterprises to capture critical voice data and turns it into actionable business insights, teams move faster, decisions get sharper, and productivity compounds across the organization, and that’s why it’s a strong partner for CVF." — Pranav Singhvi, Partner and Co-founder of CVF, General Catalyst.