Wispr Flow secures $280 million in Series B funding at $2 billion valuation

San Francisco-based voice AI startup Wispr Flow has raised $280 million in a Series B funding round led by Menlo Ventures at a valuation of $2 billion.

The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.

The startup will use the fresh capital to strengthen its product offerings, expand its speech AI capabilities, and scale the deployment of Canto, its proprietary speech recognition model designed to deliver higher accuracy in challenging environments.

Wispr Flow was founded by Tanay Kothari. The company develops AI-powered speech-to-text software that enables users to write, communicate and complete workplace tasks through voice commands. Its platform is currently used by more than 10,000 businesses worldwide. The startup is also broadening its product suite beyond voice dictation to include meeting notes and other workplace productivity tools.

Commenting on the company’s growth, Kothari said that India has emerged as Wispr Flow’s second-largest market in terms of both users and paying subscribers.

Prior to this round, Wispr Flow had raised $25 million in funding less than a year ago at a valuation of $700 million. With the latest Series B round, the company’s total funding has reached $361 million, while its valuation has nearly tripled.