Wispr, a startup known for its AI dictation tool, has raised $280 million in Series B funding at a $2 billion valuation, the company announced on Monday. The round was led by Menlo Ventures, with existing investors including Notable Capital, NEA, Neo Ventures, 8VC, and MVP Ventures also participating. New investors include Acrew, Forerunner, Goodwater, Peak XV, Together Fund, and PLUS Capital.
With this latest round, Wispr has raised $361 million to date, with its previous round occurring less than 10 months ago. The funds will be used to increase its footprint as it moves into new areas, such as meetings, with its newly released note-taker tool.
Alongside the funding news, Wispr announced a new model called Canto, which it says will reduce error rates in its dictation output from 30% to less than 10%. This comes after several users complained about a quality dip in Wispr Flow's dictation output over the last few weeks.
Wispr has also been expanding its presence, releasing its dictation app on Android since last November and scaling go-to-market teams in regions like India and the U.K. It is partnering with hardware makers, such as the Oasis ring, to allow dictation without speaking loudly, and its meeting notetaker competes with tools like Granola, Fireflies, and Read AI.