SoundHound

SoundHound AI, Inc. is a voice AI company specializing in speech recognition, natural language understanding, and sound recognition technologies. Founded in 2005 and headquartered in Santa Clara, California, SoundHound offers a range of products and services centered around voice-enabled technologies. The company's flagship product is the SoundHound mobile app, which allows users to identify songs by humming, singing, or typing lyrics. SoundHound also provides a comprehensive voice AI developer platform called Houndify, enabling businesses and developers to integrate advanced voice recognition capabilities into their applications and services across various industries.

In addition to its music recognition technology, SoundHound has expanded its offerings to include voice-enabled digital assistants and AI-powered solutions for automotive, connected home, and hospitality applications. The company's technology has been integrated into vehicles through partnerships with automotive manufacturers like Hyundai, Mercedes-Benz, and Honda, providing voice interaction capabilities for tasks such as music control, navigation, and hands-free communication. In December 2023, SoundHound's Dynamic Interaction drive-thru technology received recognition, winning the Automation & Self-Service Award for "Best Use AI."

SoundHound went public in April 2022 through a SPAC merger and is listed on the Nasdaq under the symbol SOUN. The company reported projected revenues of USD 31 million for 2022, with expectations of 50% year-over-year revenue growth in 2023. In December 2023, SoundHound acquired SYNQ3 Restaurant Solutions, a provider of voice AI for restaurants, in a USD 25 million deal, significantly expanding its presence in the restaurant industry.

Key customers and partnerships

SoundHound has established partnerships with several major companies across various industries. In the automotive sector, the company has collaborated with Hyundai, Mercedes-Benz, and Honda to integrate voice interaction capabilities into their vehicles. SoundHound's technology has also been adopted by Snap Inc., with the introduction of Voice Scan in the Snapchat app. Additionally, the company has partnered with Pandora to enhance music discovery through voice interactions in the Pandora mobile app.

SoundHound has expanded its reach through the acquisition of SYNQ3, which is expected to increase its customer base to include over 10,000 signed locations across drive-thru, fast casual, casual restaurants, and convenience stores. This acquisition encompasses more than 25 national and multinational chains. SoundHound has also collaborated with Toast in the hospitality sector, further diversifying its client portfolio.