Otter.ai, the developer of an AI-powered meeting assistant, has secured $320 million in funding. The investment was provided by General Catalyst’s Customer Value Fund. This financial instrument focuses on supporting sales and marketing initiatives, with the investor receiving a share of generated revenue rather than an equity stake in the startup.
The platform provides transcription services with speaker recognition, summarizes meeting content, and captures shared screen data. Users can search through generated files using natural language prompts. The service integrates with over a dozen cloud platforms, including Jira, Snowflake, and OneDrive, and supports connectivity with chatbots like ChatGPT via an MCP server.
The company offers a free tier and three paid versions, including an Enterprise edition with advanced analytics and access controls. Otter.ai reports a global user base exceeding 40 million, with adoption across more than 86% of Fortune 500 companies. The firm intends to double its enterprise business within the next year by tripling its sales and marketing budget.
