Otter.ai raises $320M from General Catalyst to expand AI meeting platform

Otter.ai announced on October 20 that it has raised $320 million from General Catalyst's Customer Value Fund (CVF), a fund that provides non-dilutive capital to startups and ties returns to marketing spend results.

The AI meeting note-taking company said the funds will support enterprise growth, go-to-market strategy, international expansion, and product innovation. According to PitchBook, the nearly decade-old startup had raised $50 million in total funding prior to this round, with its last equity round in 2021.

Otter.ai crossed $100 million in annual recurring revenue in 2025 and said it is approaching new milestones without providing updated figures. The company said 40 million users have used its product to date, up from 25 million in 2025.

The company faces competition from Fireflies.ai, Granola, Read AI and others in the meeting notetaker space. It has recently added a meeting assistant, cross-app search, and integrations with other AI tools, and is testing pre-meeting briefs and live in-meeting Q&A features.