Cerence

Cerence

AI solutions for automotive in-car experiences

About Cerence

Simplify's Rating
Why Cerence is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Automotive & Transportation

AI & Machine Learning

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Burlington, Massachusetts

Founded

2019

Overview

Cerence develops AI-powered solutions for the automotive industry, focusing on improving the in-car experience for drivers and passengers. Their products include voice recognition systems and AI-driven assistants that enhance entertainment, connectivity, and safety while driving. Cerence collaborates with major automotive manufacturers to integrate these technologies into vehicles, such as the Mercedes Benz User Experience. Unlike many competitors, Cerence emphasizes ongoing support and upgrades through a subscription-based model, ensuring their technology stays current with trends in smart cities and electric vehicles. The company's goal is to transform transportation and shape the future of mobility by providing intuitive and personalized systems.

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Simplify's Take

What believers are saying

  • Cerence's partnership with Kawasaki expands its voice-powered AI solutions to the two-wheeler market.
  • The introduction of Cerence xUI advances LLM-powered in-vehicle user experiences.
  • Cerence's collaboration with Mapbox enhances voice-powered navigation for the automotive industry.

What critics are saying

  • Increased competition from SoundHound's partnership with Lucid Motors may impact Cerence's market share.
  • Microsoft's AI advancements with Siemens could overshadow Cerence's offerings in automotive applications.
  • The trend towards voice AI in financial transactions pressures Cerence to expand beyond automotive.

What makes Cerence unique

  • Cerence specializes in AI-powered solutions for the automotive industry, enhancing in-car experiences.
  • The company collaborates with industry leaders like Nuance and Daimler for advanced user interaction.
  • Cerence's solutions include voice recognition and AI-driven assistants for safer, enjoyable driving.

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Funding

Total Funding

$190M

Above

Industry Average

Funded Over

1 Rounds

Post IPO Convertible funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Convertible Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

3%

2 year growth

4%
Auto Connected Car
Mar 17th, 2025
Cerence AI Cerence xUI, LLM for AI Automotive Assistants @NVIDIAGTC

To discuss the evolving role of AI in vehicle technology, Cerence will join executives from NVIDIA, JLR, and Renault at the NVIDIA GTC conference on March 20.

The Manila Times
Mar 13th, 2025
Cerence AI Debuts xUI, its Hybrid, LLM-Based Platform, Advancing the Fully Agentic In-Car Experience

BURLINGTON, Mass., March 13, 2025 (GLOBE NEWSWIRE) - Cerence Inc. (NASDAQ: CRNC) ("Cerence AI"), a global leader pioneering conversational AI-powered user experiences, today introduced Cerence xUI(TM), its agentic AI assistant platform that works across the edge and the cloud to advance the next generation of LLM-powered in-vehicle user experiences.

Techedge AI
Jan 9th, 2025
Mapbox and Cerence AI Partner to Revolutionize Voice-Powered Navigation for Automotive Industry

Mapbox, a leading provider of mapping and location services, has partnered with Cerence AI, a pioneer in voice AI, to integrate Mapbox's navigation services with Cerence's voice solutions, including its in-car assistant platform.

Stock Titan
Jan 6th, 2025
Cerence AI to Present at 27th Annual Needham Growth Conference

BURLINGTON, Mass., Jan. 06, 2025 (GLOBE NEWSWIRE) - Cerence Inc. (NASDAQ: CRNC) ("Cerence AI" or "the Company"), a global leader in AI for transportation, announced today that it will be presenting at the 27th Annual Needham Growth Conference on Tuesday, January 14, 2025 at 12:45 p.m. Eastern Time.

PYMNTS
Jan 2nd, 2025
Soundhound Launches Ai Pact With Ev-Maker Lucid

Voice AI company SoundHound launched a partnership with electric vehicle maker Lucid. The car company released its hands-free voice assistant, Lucid Assistant, powered by SoundHound’s artificial intelligence, according to a Thursday (Jan. 2) press release. “Developing Lucid Assistant in cooperation with SoundHound enables us to deliver much more than a voice control feature,” Dr. Jean-Philippe Gauthier, head of software engineering at Lucid, said in the release. “In combination with Lucid’s frequent over-the-air software updates, Lucid Assistant can grow in functionality and capability over time, delivering an ever-better experience for Lucid owners.”

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