Otter.ai has secured $320 million in non-equity financing from General Catalyst through its Customer Value Fund. The deal requires the startup to repay the capital with interest rather than surrendering equity stakes. The funding is tied to future revenue growth generated by customer acquisition investments.
The company plans to utilize the capital to expand its international presence and increase its sales and marketing budget. CEO Sam Liang stated that the firm aims to at least double its enterprise revenue over the next year. Otter currently operates in the United States, Canada, Britain, and India.
Otter.ai has evolved from a transcription tool into a platform for meeting summaries and business intelligence. The company reports that over 40 million people have used its products, with usage present in more than 86% of Fortune 500 companies. The platform has transcribed over one billion meetings to date.
The startup reached $100 million in annual recurring revenue in 2025. It now faces competition from major platforms like Microsoft, Google, and Zoom, as well as specialized AI startups such as Fireflies.ai, Granola, and Read AI. The company intends to develop agentic workflows to differentiate its services.
