Otter.ai Raises $320 Million From General Catalyst’s Growth Fund

What happened

Otter.ai said Tuesday it raised $320 million from General Catalyst’s Customer Value Fund, which provides capital to startups without diluting equity and earns returns based on marketing spend results. The company said it will use the funds for enterprise growth, go-to-market strategy, international expansion, and product innovation. Otter said 40 million users have used its product to date, up from 25 million last year.

The story so far

Otter.ai said it raised $320 million from General Catalyst’s Customer Value Fund to support enterprise growth, go-to-market efforts, international expansion and product innovation. The fund provides capital without diluting startups’ equity and earns returns tied to the results of marketing spending. The meeting note-taking company said 40 million users have used its product to date, up from 25 million last year.

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