Deals · Updated 20 Oct, 04:30 pm IST
Otter.ai raises $320M from General Catalyst’s growth fund
Why it matters for readers: Explains why a popular meeting tool is getting money to expand and improve its product and reach.
- Otter.ai secured $320 million from General Catalyst’s Customer Value Fund, a non-dilutive growth investment, according to the company.1
- The funds will be used for enterprise growth, go-to-market strategy, international expansion, and product innovation.1
- Otter.ai said 40 million users have used the product to date, up from 25 million last year.1
- The company previously crossed $100 million in annual recurring revenue but did not provide updated revenue, monthly active user, or churn figures.1
- General Catalyst’s CVF focuses on providing capital without diluting equity and ties returns to marketing performance.1
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