News > SoundHound, speech AI company raises $25 mn after laying off 40% of its workforce earlier this month

SoundHound, speech AI company raises $25 mn after laying off 40% of its workforce earlier this month

AI might be hyped these days as the next billion-dollar (or much bigger) opportunity after that mega round for Microsoft’s OpenAI, but that rising tide isn’t lifting all boats. SoundHound — the speech AI company that provides conversational AI services for automotive, connected home and hospitality applications — laid off 40% of its workforce earlier this month and announced today that it had raised $25 million in equity to fund its position in the market.