Wispr Raises $280 Million and Previews Speech Model Canto

Wispr announced $280 million in Series B funding at a $2 billion valuation. The round was led by Menlo Ventures, with participation from existing investors Notable Capital, NEA, Neo Ventures, 8VC, and MVP Ventures. New investors include Acrew, Forerunner, Goodwater, Peak XV, Together Fund, and PLUS Capital. The financing brings Wispr's total capital raised to $361 million.

The company said its Flow voice dictation product is used by millions of people, including employees at most Fortune 500 companies and users across more than 125,000 companies. Wispr also stated that revenue has grown by more than 150 percent every quarter for the last four quarters.

Wispr also previewed Canto, its first proprietary speech model, built by the new Wispr Advanced Interfaces Lab. The lab is led by Chief Scientist Ariya Rastrow, a founding member of the Alexa team and former multimodal foundation model lead at Meta. Wispr said Canto improves transcription accuracy in conditions such as background noise, wind, and strong accents, reducing word error rates from more than 30 percent to 5 to 10 percent in challenging acoustic settings.