Wispr Flow, an AI speech-recognition and dictation startup, said it raised $280 million in a Series B led by Menlo Ventures, putting the company at a $2 billion valuation.
The company also previewed its proprietary speech model, Canto, saying it reduces word-error rates in noisy conditions to roughly between 5 and 10% from levels above 30%, a capability aimed at improving transcription where background noise, accents or music previously caused high error rates.
"Error rates fall from more than 30% of words to somewhere between 5 and 10%," Tanay Kothari said in the announcement Tanay Kothari.
The round, which Reuters said included existing backers Notable Capital, NEA, Neo Ventures, 8VC and MVP Ventures alongside new investors Acrew, Forerunner and Goodwater, brings total capital raised to $361 million and follows a rapid series of product and fundraising moves this year; Wispr Flow presented Canto as the immediate product milestone tied to the financing.
