Otter.ai raises $320 million in non-equity financing from General Catalyst fund
Image: Primary Otter.ai announced Tuesday that it raised $320 million from General Catalyst's Customer Value Fund. The fund supplies capital without diluting equity and earns returns from the results of marketing spending. Otter plans to use the money for enterprise growth, international expansion, product innovation and its go-to-market strategy.
The meeting transcription company said 40 million people have used its product, up from 25 million last year. It crossed $100 million in annual recurring revenue last year but supplied no updated revenue figure, monthly active user count or churn rate.
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