Wispr raised $280 million in Series B funding led by Menlo Ventures at a $2 billion valuation, the company announced on Monday. The round brings total funding to $361 million and comes less than ten months after its previous raise. Existing investors Notable Capital, NEA, Neo Ventures, 8VC, and MVP Ventures participated alongside new backers Acrew, Forerunner, Goodwater, Peak XV, Together Fund, and PLUS Capital. The funding will help Wispr expand beyond its core AI dictation tool into areas like meeting notes, where it faces competition from Granola, Fireflies, and Read AI.

Alongside the funding, Wispr released a new speech understanding model called Canto that it says will reduce dictation error rates from 30% to less than 10%. The improvement addresses recent user complaints about quality dips in Wispr Flow. Since November, the company has launched its dictation app on Android and scaled go-to-market teams in India and the U.K. It also partnered with hardware makers such as the Oasis ring to enable quiet dictation.

Wispr’s meeting note-taker can generate summaries and action items, and the company sees room to integrate with other tools for tasks like updating documents or drafting emails. Last month, the startup formed Wispr Interface Labs, led by early Amazon Alexa engineer Ariya Rastrow, to explore new human-computer interaction interfaces.