Otter.ai Raises $320M in Funding from General Catalyst

Otter.ai, a Mountain View, California-based provider of AI-powered meeting notes and conversation intelligence software, has raised $320 million from General Catalyst’s Customer Value Fund (CVF).

The company plans to use the funding to accelerate enterprise growth, expand internationally, strengthen its go-to-market strategy, and develop new products, including AI-powered enterprise workflows.

What is Otter.ai?

Otter.ai develops an AI notetaker that records conversations, generates transcripts, summarises meetings, and identifies action items. Its platform helps individuals and businesses turn spoken conversations into searchable information that can be used for follow-ups and decision-making.

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The company uses automatic speech recognition and speaker identification to convert conversations into structured information. Its tools also connect with other business software, helping teams access meeting knowledge and automate tasks.

The company is also testing features that provide information before and during meetings. These include pre-meeting briefs based on previous conversations and a Live Assist feature that lets users ask questions during meetings and receive relevant information from the AI assistant.

How Much Funding Has Otter.ai Raised?

Otter.ai has received $320 million in funding from General Catalyst’s Customer Value Fund (CVF).

The announcement does not provide a breakdown of previous funding rounds or the company's total funding raised to date.

Who Invested in Otter.ai’s Funding Round?

General Catalyst’s Customer Value Fund led the $320 million investment.

The announcement does not disclose any other participating investors in this round.

Why the Funding Matters

Otter.ai plans to use the funding to expand its enterprise business, strengthen its go-to-market strategy, enter more international markets, and invest in product development.

The company is also working to develop enterprise agentic workflows, which could help businesses use information captured during conversations to automate tasks and improve internal processes.

As companies look for ways to connect meeting information with their existing business systems, Otter.ai is expanding its platform beyond note-taking to support search, research, and workflow automation.

Who founded Otter.ai?

Otter.ai was founded by Sam Liang, Yun Fu, and Eli M. The company is headquartered in Mountain View, California.

It focuses on using AI to capture, organise, and connect information from spoken conversations so that individuals and organisations can access it when needed.

Market and Business Growth

Otter.ai reported more than $100 million in annual recurring revenue (ARR) last year. The company says it is approaching new business milestones but has not disclosed updated revenue figures.

Its product has been used by 40 million people to date, up from 25 million the previous year.

The company has also expanded its product beyond transcription by introducing meeting assistance, cross-app search, and integrations with other AI tools. Its latest development efforts include features that provide context before meetings and answer questions during conversations.

What Happens Next?

Otter.ai plans to accelerate enterprise growth, expand internationally, and continue developing its AI-powered conversation platform.

The company is also exploring more agentic workflows and features that use meeting context to provide useful information before, during, and after conversations.

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