Otter.ai raises $320M from General Catalyst's Customer Value Fund

Meeting-notes company Otter.ai raised $320 million from General Catalyst's Customer Value Fund, according to a TechCrunch report published on 20 October.

Otter said the money is non-dilutive capital. The structure returns capital to the investor based on marketing performance.

Before this round, Otter had raised only about $50 million in its roughly ten-year history, according to the report.

Otter said it passed $100 million in annual recurring revenue last year. It said it has 40 million users.

The company plans to spend the funds on enterprise sales and international expansion. It also plans to build new features, including pre-meeting briefs, live AI assistance during calls and workflow automation.

The notes on the story come from a secondary summary of the TechCrunch article. Terms of the Customer Value Fund repayment structure beyond its link to marketing performance were not detailed in that summary.

Otter has not said when the new features will launch.