$320 Million Funding for Knowledge Engine Otter.ai

Meeting transcription service Otter.ai has closed $320 million in growth financing, with which to fuel its development as a 'conversation knowledge engine', helping to capture, connect and activate 'every' business conversation. Funds will also be used for international expansion.

Headquartered in Mountain View, CA, the firm already claims more than 40 million users for its AI notetaker, including more than 86% of the Fortune 500. Otter's proprietary ASR and speaker identification technology turns meetings into searchable intelligence and automated action items, syncing with existing business software and learning as it goes - this promises 'significant productivity gains' for organizations in consulting, education, financial and professional services, media and other sectors.

The firm, founded by CEO Sam Liang and CTO Yun Fu (pictured L to R) is already backed by Spectrum Equity, Horizon Ventures and Draper Associates, and the new, non-equity funds come from General Catalyst's Customer Value Fund (CVF).

Liang says the financing is 'a powerful vote of confidence' and comments: 'This will fuel our next chapter, enabling us to build enterprise agentic workflows that bring more advanced, intelligent AI to teams everywhere and push toward a future where voice becomes the backbone of enterprise productivity.'

Web site: www.otter.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.