Cerence

Overview

Cerence Inc. is an American software company listed on Nasdaq (CRNC) that creates Artificial intelligence voice solutions for the Automotive industry. Formed in 2019 after the automotive division of Nuance Communications became independent, the firm is based in Burlington, Massachusetts, United States.

Key Facts

Founded: 2019

Predecessor: Nuance Communications automotive division

Headquarters: Burlington, Massachusetts, U.S.

Key people: Brian Krzanich (CEO); Arun Sarin (Chairman)

Employees: ≈1,400 (2024)

Revenue: US$332 million (2024)

Operating income: −US$580 million (2024)

Net income: −US$588 million (2024)

Total assets: US$702 million (2024)

Total equity: US$141 million (2024)

History

Cerence began independent trading on 2 October 2019, inheriting contracts with about 60 automakers such as BMW, Ford, and Toyota. New agreements soon followed with Fiat Chrysler, Mercedes-Benz, and LG infotainment units, while VinFast adopted Cerence for its electric cars in 2021. By August 2021 the company’s AI powered more than 400 million vehicles worldwide. In 2021 it earned an Automotive News PACE Award for the voice-activated payment service Cerence Pay.

Products

Cerence offers white-label automotive AI and Voice assistant platforms supporting 70 languages, facial recognition, gesture control, and natural-language routing to assistants from Apple or Google. The software lets drivers manage navigation, entertainment, climate, and payments through voice, glance, or gesture, with ongoing development aimed at expanded driver-monitoring and hands-free cabin functions.