Otter.ai raises $320M from General Catalyst's revenue-share fund
Overview
Otter.ai Inc. announces it has raised $320 million, all from General Catalyst's Customer Value Fund.
General Catalyst takes no equity stake in the company and instead receives a share of the revenue it helps Otter.ai generate.
Otter.ai says its platform has more than 40 million users worldwide, including employees at more than 86% of the Fortune 500. Reuters reports the company hopes to at least double its enterprise business over the next year by tripling its sales and marketing budget.
Written by AI from the articles below · updated Oct 20, 7:08 PM ET
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- SiliconANGLE · AINewsOtter.ai raises $320M in funding for its AI meeting assistant
AIOtter.ai Inc. announces it has raised $320 million, all from General Catalyst's Customer Value Fund, which takes a share of revenue generated rather than equity. Otter.ai says its platform has more than 40 million users worldwide, including employees at more than 86% of the Fortune 500. Reuters reports the company hopes to at least double its enterprise business over the next year by tripling its sales and marketing budget.
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