Wispr raises $280M at $2B valuation, expands beyond dictation
On Monday, Wispr, recognized for its AI dictation application, secured $280 million in Series B funding, spearheaded by Menlo Ventures, achieving a valuation of $2 billion. With this latest investment, the total funding has reached $361 million, following a previous round less than 10 months ago. The new capital will facilitate Wispr's expansion into additional areas, such as meetings with its note-taker tool. Competing applications include Willow and Monolouge. Current backers like Notable Capital and NEA joined forces with new investors, including Acrew and Forerunner. Additionally, Wispr introduced Canto, designed to lower error rates from 30% to under 10%, and has launched its dictation app on Android while collaborating with hardware manufacturers for enhanced dictation.
Key facts
- Wispr raised $280 million in Series B funding led by Menlo Ventures at a $2 billion valuation.
- The company has raised $361 million to date, with the last round less than 10 months ago.
- New investors include Acrew, Forerunner, Goodwater, Peak XV, Together Fund, and PLUS Capital.
- Existing investors Notable Capital, NEA, Neo Ventures, 8VC, and MVP Ventures participated.
- Wispr launched a new model called Canto to reduce error rates from 30% to less than 10%.
- Wispr released its dictation app on Android and scaled teams in India and the U.K. since last November.
- Wispr is partnering with hardware makers like the Oasis ring for dictation without speaking loudly.
- Wispr Interface Labs was announced under Ariya Rastrow, an early Amazon Alexa team member.
- Competitors in dictation include Willow, Monolouge, Aqua, and Superwhisper.
- Meeting notetaker competes with Granola, Fireflies, and Read AI.
Entities
Artists
- Ariya Rastrow
Institutions
- Wispr
- Menlo Ventures
- Notable Capital
- NEA
- Neo Ventures
- 8VC
- MVP Ventures
- Acrew
- Forerunner
- Goodwater
- Peak XV
- Together Fund
- PLUS Capital
- Wispr Flow
- Oasis
- Granola
- Fireflies
- Read AI
- Amazon Alexa
Locations
- India
- U.K.