Otter.ai Secures $320 Million Investment from General Catalyst to Accelerate Expansion in the Enterprise AI Market

On October 20 that, according to TechCrunch, AI meeting tool Otter.ai secured $320 million in funding from General Catalyst’s Customer Value Fund (CVF). The investment will not dilute the company’s equity, as CVF will realize returns through the performance gains driven by Otter.ai’s marketing investments. Otter.ai plans to allocate the funds toward business growth, market expansion, international scaling, and product innovation.

Otter.ai’s annual recurring revenue (ARR) surpassed $100 million last year, and its cumulative user base has now reached 40 million, up from 25 million the previous year. The company is expanding beyond a meeting transcription tool into enterprise AI workflows and is testing features such as pre-meeting briefings and Live Assist, enabling users to access background information prior to meetings and ask questions directly to the AI assistant during sessions.