Industry

Otter.ai lands US$320 million from General Catalyst fund

Otter.ai has raised US$320 million from General Catalyst's Customer Value Fund, it announced on Tuesday. The fund provides capital without diluting equity and earns returns based on the results of marketing spend. Otter says it will use the money for enterprise growth, go-to-market strategy, international expansion and product innovation. It says 40 million people have used its product to date, up from 25 million last year, but gave no monthly active user or churn figures.

Why it matters: If your team relies on AI meeting notes, the market is crowded, with many well-funded rivals. Compare features and costs before committing, and ask vendors how many customers keep using their product.

Source: TechCrunch