Wispr, a startup known for its AI dictation tool, announced on Monday that it has raised $280 million in Series B funding, led by Menlo Ventures, at a $2 billion valuation. The funds will support the company’s expansion into new areas, including meetings, with its newly released note-taker tool. This brings Wispr’s total raised to $361 million since its inception. The latest round follows a previous funding round less than 10 months ago.
The new capital comes amid increased competition in the dictation space from apps like Willow, Monologue, Aqua, and Superwhisper, as well as free or lower-priced tools from developers targeting prosumers. Existing investors, including Notable Capital, NEA, and 8VC, doubled down in the latest round, while new investors such as Acrew and Goodwater joined. Alongside the funding, Wispr announced the launch of a new model, Canto, to improve speech understanding and reduce error rates from 30% to less than 10%.
Since November, Wispr has released its dictation app on Android and expanded its go-to-market teams in regions like India and the U.K. The company is also partnering with hardware makers like the Oasis ring to enable dictation without speaking loudly. Separately, its meeting notetaker is competing with tools like Granola and Fireflies, with potential for integration with other platforms.
Source: techcrunch
