Voice AI Technology Firm SoundHound Closes Merger with SPAC.
MANews-(C)2009-2022
US-based voice artificial intelligence SoundHound Inc and blank check company Archimedes Tech SPAC Partners Co. (NASDAQ: ATSPU) have closed a merger announced last November, the companies said.
The combined company is called SoundHound AI, Inc. and will begin trading on NASDAQ under the new ticker symbol "SOUN" on April 28, 2022.
SoundHound has developed an independent voice AI platform that allows businesses across industries to integrate intelligent conversational voice assistants into their products.
SoundHound's breakthrough innovations include Speech-to-Meaning and Deep Meaning Understanding technologies that process speech in one step with speed and accuracy, allowing people to interact with products and services the same way they do with each other, by simply talking.
Adoption of voice AI is rapidly expanding, with the market opportunity expected to reach USD 160bn by 2026.
Businesses across industries are realizing that voice is the next frontier for their brands in the digital revolution and are adopting voice AI to deliver differentiated customer experiences.
Today, SoundHound's technology powers the voice experience in millions of products from leading global brands, including Hyundai, Mercedes-Benz, Pandora, Mastercard, Deutsche Telekom, Snap, Vizio, KIA, Stellantis, and more.
SoundHound processes over 100m queries per month across the company's ecosystem of product partnerships. Query volume doubled in the first half of 2021 and is projected to exceed 1 bn by the end of the year.
SoundHound's technology has been developed over the last 16 years and includes 227 patents granted or pending with solutions available across cloud-only, embedded-only, and hybrid connectivity.
The technology is available in 22 languages, with additional languages planned in the near future. The company's developer platform, Houndify, gives clients access to dashboards and development tools to analyze customer usage and behavior and better optimize the voice experience of their products.
SoundHound's custom voice assistants allow businesses to build customer loyalty and deliver real business value with enhanced customer experiences and new monetization opportunities.
The SoundHound developer platform, Houndify, is an open-access platform that allows developers to...
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