Otter.ai has raised $320 million in growth financing from General Catalyst’s Customer Value Fund. The AI meeting notetaker announced the deal on Tuesday. It will use the money for enterprise growth, its go-to-market strategy, international expansion and product development.

Otter says more than 40 million people now use its product. That includes teams at over 86% of the Fortune 500. It has transcribed more than 1 billion meetings. It put the customer return on investment from time saved at more than $1.5 billion.

“This financing from General Catalyst is a powerful vote of confidence in what we’re building at Otter,” said chief executive Sam Liang. “This will fuel our next chapter, enabling us to build enterprise agentic workflows that bring more advanced, intelligent AI to teams everywhere.”

The AI notetaker joins Zoom, Teams and Google Meet calls. It transcribes them in real time, identifies speakers, and produces summaries and action items. Otter said sales teams are among its main early adopters.

Otter is backed by Spectrum Equity, Horizon Ventures and Draper Associates. Its competitors include Fireflies and Granola.