Key facts
- AI startup Wispr has raised $280 million in a Series B funding round.
- The company's valuation has reached $2 billion.
- Wispr's total funding now stands at $361 million.
- The startup is launching a new speech-recognition model called Canto.
- Wispr is expanding its offerings to include meeting note-taking tools.
AI startup Wispr has secured $280 million in Series B funding, led by Menlo Ventures, at a valuation of $2 billion. This latest round brings the company's total funding to $361 million. Wispr, known for its AI dictation tools, plans to use the capital to expand its offerings into new areas, including meeting note-taking.
The company is facing increased competition in the dictation market. To address this and improve its services, Wispr announced a new speech understanding model called Canto, aiming to reduce error rates significantly. Existing investors, including Notable Capital and NEA, participated in the round, alongside new investors like Acrew and Forerunner.
Wispr is also broadening its product scope with a newly released note-taker tool for meetings. The company is exploring new interfaces for human-computer interaction through its Wispr Interface Labs.