SoundHound raises $75M to create a voice-controlled future by Maria Deutscher
For SoundHound Inc., developing a wildly popular app with hundreds of millions of downloads was just the first step towards success.
The Santa Clara-based startup, which has carved out a niche by helping mobile users identify unfamiliar songs, raised $75 million this week to launch the next stage of its plan. SoundHound is looking to establish the sophisticated artificial intelligence at the core of its app as the industry’s leading speech recognition platform. The firm is targeting not only music and other forms of entertainment but also the growing number of voice-controlled technologies that are entering the market.
This trend is driven in large part by the rapid adoption of virtual assistants that are automating menial administrative tasks previously carried out by humans. Some banks, for instance, rely on the technology to handle customer support, while other companies employ chatbots to streamline their cybersecurity operations. More and more of these bots are being equipped with speech recognition algorithms that enable them to take voice commands. ... "