Cloud-based audio transcription service Otter.ai won the backing of Duke University Innovation Fund and NTT Docomo Ventures in its latest round.
US-based automated audio transcription platform Otter.ai has raised $10m in a round involving Duke University Innovation Fund, VentureBeat has reported.
NTT Docomo Ventures, the corporate venturing unit of telecoms firm NTT Group’s mobile network division, NTT Docomo, led the round, which also included Fusion Fund, GGV, Draper Dragon Fund, Harris Barton Asset Management, Slow Ventures and undisclosed additional investors.
Founded in 2016 as AISense, Otter.ai is a cloud-based platform that relies on natural language processing to automatically transcribe text from audio recordings.
Users can search the transcriptions for specific words and phrases, and Otter.ai can discern between multiple speakers, labelling each from their vocal attributes. The service is available as a free basic version and a paid-for education and enterprise versions.
NTT Docomo is currently trialling Otter.ai in partnership with Japanese language coaching firm Berlitz, enabling classes to transcribe notes and review lecture notes through the service.
Otter.ai previously received $10m in a 2017 series A round led by Horizons Ventures with participation from Draper Dragon Fund, Draper Associates, Bridgewater Associates, David Cheriton and unnamed additional investors.
The round followed seed capital supplied at undisclosed dates by Cheriton, Drape Associates, Draper Dragon, Slow Ventures, SV Tech Ventures, Danhua Capital and 500 Startups, according to TechCrunch.
