Otter.ai raises $320 million from General Catalyst’s growth fund
Original title: Otter.ai raises $320 million from General Catalyst’s growth fund for its meeting tool
The non-dilutive Customer Value Fund round follows $100 million ARR last year and use by 40 million people to date.
Meeting note-taking company Otter.ai said on Tuesday it raised $320 million from General Catalyst’s Customer Value Fund, which supplies capital without equity dilution and is repaid from marketing results. Otter said the money will go to enterprise growth, go-to-market work, international expansion, and product development. PitchBook data cited in the report puts prior funding at $50 million, with the last round in 2021. The company did not give updated revenue, monthly active users, or churn.
Unconfirmed: Otter said it is approaching new milestones but did not provide updated revenue figures.
- Users to date rose from 25 million last year to 40 million, the company said.
- Otter is testing pre-meeting briefs and a Live Assist feature during meetings.
- Alex Gay, formerly of Superhuman, is the newly appointed chief marketing officer.
- Named rivals include Fireflies.ai, Granola, and Read AI.
- Vendors
- Otter.ai
- Products
- Otter
- Organizations
- General Catalyst
From the original article
3 min read at techcrunch.com
Meeting note-taking tool Otter. ai announced on Tuesday that it has raised $320 million from General Catalyst’s Customer Value Fund (CVF), which provides capital to startups without diluting equity and gets returns on the results of marketing spend. Otter.
By Ivan Mehta · techcrunch.com
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