Otter.ai Secures $320M from General Catalyst Fund

Otter.ai has raised $320 million from General Catalyst's Customer Value Fund, which provides financing for sales and marketing rather than taking an equity stake, instead receiving a share of revenue generated. The AI meeting assistant serves over 40 million users worldwide, including staff at more than 86% of Fortune 500 companies. The platform transcribes meetings, generates summaries and action items, and offers role-specific tools for salespeople and teachers. Otter.ai plans to triple its sales and marketing budget to at least double its enterprise business within the next year.