Wispr raises $280M to power up natural speech-to-text using AI

Wispr AI Inc., a provider of an AI-powered dictation platform, has secured $280 million in Series B funding, bringing its total raised capital to $361 million and valuing the company at $2 billion. The investment round was led by Menlo Ventures, with participation from Notable Capital, NEA, Neo Ventures, 8VC, MVP Ventures, and several other new investors.

Wispr's flagship product, Flow, is a text-to-speech application that seamlessly integrates into various platforms, allowing users to dictate text naturally, eliminating the need for typing.

Flow's unique selling point lies in its ability to process spoken language, correct grammar, and remove filler words, producing polished, readable text for emails, memos, and documents. This feature is particularly valuable in environments where users prefer speaking over typing, such as on mobile and desktop devices.

Recently, Wispr introduced Canto, its first proprietary AI model, designed to handle various speech conditions, including background noise, interruptions, and multiple voices. Unlike most speech models that rely on clean voice recordings, Canto was trained on diverse speech samples, enabling it to isolate human voices from environmental noises. When integrated with Flow, Canto significantly improves the accuracy of dictation in noisy settings, reducing errors from 30% to nearly 5%.

The improved accuracy of Canto opens up new possibilities for users in noisy environments, such as driving or attending noisy events. Previously, text-to-speech apps were mainly used for simple tasks like checking the weather or asking for directions. With Wispr's advanced system, users can discuss ideas in a car or at a noisy venue, and the model will transcribe most of the spoken words accurately.

Wispr's technology has already gained traction among NBA players, business professionals, and the deaf and hard-of-hearing community. The platform has processed over 60 billion words, and its usage extends to more than 10,000 enterprises, including virtually all Fortune 500 companies. By supporting theCUBE community, Wispr aims to foster collaboration and innovation in the tech industry while providing valuable resources for technology leaders.