Otter.ai Raises $50M in Series B Funding

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Otter.ai, a Los Altos, Calif.-based AI-powered collaborative note-taking and productivity app provider, raised $50m in Series B funding.

The round, which included a $10m convertible note, was led by Spectrum Equity, with participation from Horizons Ventures, Draper Associates, GGV Capital, Draper Dragon Fund, and others. In conjunction with the funding, John Connolly, Managing Director of Spectrum Equity, will join Otter.ai’s Board of Directors.

The company intends to use the funds to expand operations and its business reach.

Led by Sam Liang, CEO, and founder, Otter.ai provides an AI-powered collaborative note-taking and productivity app that work with video conferencing platforms like Zoom and Google Meet and with phone calls and other voice communications. The Otter Voice Meeting Notes app uses proprietary artificial intelligence to generate secure, shareable, searchable, rich notes in real-time that combine audio, transcription, speaker identification, inline photos, and key phrases.

The app is used in more than 230 countries and has now transcribed more than 100 million meetings spanning 3 billion minutes.