Union Square Advisors Serves as Financial Advisor to SoundHound AI in its $125M Strategic Financing

in its $125M financing from
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Demonstrates Union Square Advisors’ extensive platform in providing comprehensive capital markets advice to high-growth AI companies

On April 17, 2023, Union Square Advisors announced it has served as the financial advisor to SoundHound AI, Inc. (Nasdaq: SOUN) (“SoundHound”), a global leader in voice artificial intelligence, in its $125 million financing from Atlas Credit Partners.

This strategic transaction completes the Company’s plans announced at the beginning of this year to refinance its current debt and further solidify its balance sheet. This new facility will enable SoundHound AI to replace its existing $30 million debt with a more favorable structure that eliminates principal amortization, thereby significantly reducing the Company’s cash outflow and extending the maturity date to 2027.

Additionally, the funds provide substantial incremental capital to drive further innovation and support the Company’s growth plans.

“The clear intersection between demand for sophisticated Conversational AI and adoption of SoundHound’s category-leading technology stack with 17+ years of maturity has created a unique opportunity,” said Keyvan Mohajer, CEO and Co-Founder of SoundHound. “Today, this potential has been acknowledged and underscored with a significant financial commitment from Atlas Credit Partners. Having this additional capital available will play a key role in setting SoundHound up for continued, long term success.”

“Today’s announcement with SoundHound AI demonstrates our commitment to empowering technology leaders in their respective categories. After meeting Keyvan and the SoundHound team, the sophistication of their voice AI, robust data, and technology stack made our decision to partner natural,” said Drew Mallozzi, Chief Investment Officer and Managing Partner at Atlas Credit Partners. “We believe our investment will help SoundHound AI to accelerate the pace at which they are redefining voice AI and enable them to further extend their global lead.”

“Union Square Advisors is incredibly pleased to partner with Keyvan, Nitesh Sharan SoundHound’s CFO, and the rest of the team in this next phase of the Company’s long-term success,” said Mike Meyer, Partner and Head of Capital Markets at Union Square Advisors. “Special thanks to the Atlas Credit Partners team for their partnership on this transaction.”

For more information, read the full press release here.

About Union Square Advisors

Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital and family offices. Our expertise spans many aspects of the technology landscape, including Enterprise Software and Infrastructure, FinTech, Healthcare IT, Internet+Digital Media, eCommerce, Consumer Software, AIoT & Industrial Technology and other key segments. Since inception, Union Square Advisors has advised on more than 165 strategic transactions, valued in excess of $115B. For more information, please visit https://www.usadvisors.com.


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