SoundHound AI Acquires Amelia Expanding Conversational AI Reach

SoundHound AI, Inc., a global leader in voice artificial intelligence, has acquired Amelia, a leading enterprise AI software company. This acquisition positions SoundHound AI as the foremost provider of voice and conversational generative AI, with access to multiple industries, including retail, financial services, healthcare, automotive, smart devices, restaurants, and more.

By amalgamating decades of experience in conversational AI and highly complementary product portfolios, the companies will offer best-in-class, scalable customer service support to a vast spectrum of businesses. These include some of the largest multinational enterprise brands, the top 15 global banks, and Fortune 500 organizations, with the combined company spanning nearly 200 marquee customers.

The collaborative synergies to expect from the acquisition are:

• Leading Position in Conversational AI

• Vertical Expansion Into Large Addressable Markets

• Diversification of the Customer Base

• Revenue and cost advantages

• New Monetization Opportunities

• Integrations and Capabilities

Regarding the financials of the acquisition, Soundhound AI stated in its press release that the purchase price is $80 million in cash and equity, with partial payment and assumption of Amelia’s debt. Further, the future earnout potential is aligned with revenue milestone achievements.

Expectedly, the combined revenue in 2025 is likely to exceed $150 million, with over $45 million contributed by Amelia. The combined company now holds approximately $160M of cash and $39M of debt.

“SoundHound AI has emerged as a leader in bringing voice-enabled conversational AI to products and services. Now, with more businesses choosing voice AI technology for customer service—and more consumers expecting a seamless, AI-powered service—this acquisition positions SoundHound as a strong force with range, scale, and world-class technology,” said Keyvan Mohajer, CEO and Co-Founder of SoundHound AI.

 “Amelia is an innovative company that shares our passion for AI-fueled conversations. We are looking forward to leveraging our shared capabilities to offer the best AI customer support solutions available anywhere.”

In addition to expediting and scaling SoundHound AI’s customer service offering, this move will also enable the company’s vision of a voice commerce ecosystem to significantly broaden its scope.

Moreover, Amelia will bring in additional AI expertise to SoundHound, including new intellectual property, and carry out effortless execution on a broader range of integrations with enterprise software.

“We’re excited to bring Amelia’s experience and relationships to SoundHound AI, bolstering the company’s growing AI customer service business to form a new category leader in the space,” said Lanham Napier, President of Amelia and Co-Founder of BuildGroup. “With impressive penetration into a range of vertical industries, proprietary technology, and decades of combined AI experience, SoundHound is well positioned to take advantage of the burgeoning interest in conversational AI customer support.”