Otter.ai, the innovative collaborative note-taking app, recently announced incredible results from its Series B funding round, led by Spectrum, Equity. The company has raised $50 million in total, with participation continued from investors like the Draper Dragon Fund, GGV Capital, Draper Associates, and Horizons Ventures. This new round of funding brings Partner, Spectrum Equity, John Connolly, onto Otter.ai’s Board.
The Otter.ai AI-powered notetaking and productivity solution works seamlessly with a host of video conferencing platforms like Google Meet and Zoom and supports phone calls with other voice services too.
What Will Otter.ai Do with the Investment?
With the new funding, Otter.ai plans on tripling its headcount in the next year to support its continued growth and innovation. The company is currently recruiting for leading talent in deep learning, artificial intelligence, natural language processing, data engineering, and more. There are even various key leadership positions available, such as Head of UX/Design and Head of Product.
Aside from recruitment and a continued strategy for innovation, Otter.ai will also be spending its funding on accelerating its leadership and go-to-market programs. The experienced Kurt Apen is joining Otter.ai as the first CMO. Apen also supports recognised brands in consumer technology, including Disney Mobile Games, Coursera, and eBay.
According to CEO and founder of Otter.ai, Sam Liang, the world has changed drastically in the last year, specifically when it comes to meeting and interacting online. Going forward, working, and collaborating online is likely to persist. However, this new level of online discussion does have a few challenges. Otter.ai wants to make meetings more effective through ML and AI, and they’re excited to be bringing Spectrum Equity’s expertise into the mix.
