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

Total Funding

$190M

Headquarters

Burlington, Massachusetts

Founded

2019

Overview

Cerence develops AI-powered solutions specifically 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 within vehicles. Cerence collaborates with major automotive manufacturers to integrate these technologies into their vehicles, such as the Mercedes Benz User Experience. Unlike many competitors, Cerence emphasizes a comprehensive approach that includes ongoing support and upgrades, ensuring their technology adapts to trends like smart cities and electric vehicles. The company's goal is to transform transportation and shape the future of mobility through innovative and user-friendly solutions.

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Significant Headcount Growth
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Simplify's Take

What believers are saying

  • Cerence's partnership with Mapbox enhances voice-powered navigation for cars.
  • The introduction of CaLLM Edge positions Cerence as a leader in automotive AI.
  • Growing two-wheeler market offers expansion opportunities for Cerence Ride.

What critics are saying

  • Increased competition from SoundHound threatens Cerence's market share.
  • Voice AI payments trend pressures Cerence to expand beyond automotive.
  • CEO Brian Krzanich's appointment may lead to disruptive strategic shifts.

What makes Cerence unique

  • Cerence specializes in AI-powered solutions for the automotive industry.
  • The company collaborates with industry leaders like Nuance and Daimler.
  • Cerence's solutions include voice recognition and AI-driven assistants.

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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%
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.”

PYMNTS
Dec 30th, 2024
Iwallet Begins Offering Voice Ai Payments

Digital payment solutions provider iWallet is adding voice artificial intelligence technology to its payments offering. The new technology comes as many consumers are using voice technology each day, according to a Monday (Dec. 30) press release. “However, the payments industry has lagged behind, relying on outdated systems and neglecting to integrate modern, secure technologies for seamless payment experiences,” the release said

VentureBeat
Nov 13th, 2024
Microsoft Brings Ai To The Farm And Factory Floor, Partnering With Industry Giants

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More. Microsoft has launched a new suite of specialized AI models designed to address specific challenges in manufacturing, agriculture, and financial services. In collaboration with partners such as Siemens, Bayer, Rockwell Automation, and others, the tech giant is aiming to bring advanced AI technologies directly into the heart of industries that have long relied on traditional methods and tools.These purpose-built models—now available through Microsoft’s Azure AI catalog—represent Microsoft’s most focused effort yet to develop AI tools tailored to the unique needs of different sectors. The company’s initiative reflects a broader strategy to move beyond general-purpose AI and deliver solutions that can provide immediate operational improvements in industries like agriculture and manufacturing, which are increasingly facing pressures to innovate.“Microsoft is in a unique position to deliver the industry-specific solutions organizations need through the combination of the Microsoft Cloud, our industry expertise, and our global partner ecosystem,” Satish Thomas, Corporate Vice President of Business Industry Solutions at Microsoft, said in a LinkedIn post announcing the new AI models.“Through these models,” he added, “we’re addressing top industry use cases, from managing regulatory compliance of financial communications to helping frontline workers with asset troubleshooting on the factory floor — ultimately, enabling organizations to adopt AI at scale across every industry and region… and much more to come in future updates!”Siemens and Microsoft remake industrial design with AI-powered softwareAt the center of the initiative is a partnership with Siemens to integrate AI into its NX X software, a widely used platform for industrial design. Siemens’ NX X copilot uses natural language processing to allow engineers to issue commands and ask questions about complex design tasks

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