Wispr, the AI dictation startup behind Wispr Flow, has raised $280 million in a Series B round led by Menlo Ventures, valuing the company at $2 billion. The funding will support expansion into new product areas, including the company’s recently launched meeting note-taker tool, and brings Wispr’s total funding to $361 million since its previous round less than a year ago.

Existing investors including Notable Capital, NEA, Neo Ventures, 8VC, and MVP Ventures increased their stakes, while new backers such as Acrew, Forerunner, Goodwater, Peak XV, Together Fund, and PLUS Capital joined the round. The investment comes amid growing competition in the AI dictation space from apps including Willow, Monologue, Aqua, and Superwhisper.

Alongside the funding announcement, Wispr introduced a new speech recognition model called Canto, aimed at improving accuracy after users reported quality issues with dictation output in recent weeks. The company said Canto is designed to reduce error rates from roughly 30% to under 10%.

Wispr has expanded its dictation app to Android, grown its sales teams in markets including India and the U.K., and partnered with hardware makers such as the Oasis ring to enable quieter dictation. Its meeting note-taker now competes with tools like Granola, Fireflies, and Read AI. Last month, the company launched Wispr Interface Labs, led by early Amazon Alexa contributor Ariya Rastrow, to explore new approaches to human-computer interaction.