SoundHound AI Acquires Ukrainian-Founded Startup Allset

July 1, 2024

American tech company SoundHound AI has acquired Allset, a startup founded by Ukrainians that developed a platform for online restaurant orders and pickup. The financial terms of the deal are not disclosed.

SoundHound AI, known for developing a multilingual voice AI assistant for customers, plans to integrate its technology into Allset’s platform to enhance the product. According to the press release, the AI assistant will make it easier for customers to order food and drinks across “cars, TVs, and smart devices.”

As part of the agreement, existing and new Allset partners will have full access to SoundHound’s suite of voice AI products, aimed at improving efficiency, reducing costs, and increasing sales.

The startup’s team, including co-founders Stas Matviyenko and Anna Polishchuk, will continue working with the company, leveraging their extensive market experience.

Keyvan Mohajer, CEO and co-founder of SoundHound AI, said, “As a business, Allset will help SoundHound bring voice AI solutions to even more restaurants looking to improve operational efficiency. At the same time, the Allset team brings a wealth of marketplace experience and knowledge that will make our bigger vision of a voice commerce ecosystem a reality. Together, we plan to provide dynamic and convenient ways for people to order food and complete a range of other transactions just by speaking naturally.”

Stas Matviyenko, CEO and Co-Founder of Allset, added, “We are thrilled to join forces with SoundHound to combine our established partnerships and marketplace expertise with SoundHound’s class-leading voice AI solutions and capabilities. From the beginning, we realized that we share the same vision for the voice commerce ecosystem that elevates the consumer experience. This team-up will accelerate our progress toward the next exciting phase of AI-powered ordering convenience.”

Previously, Allset had raised $26 million in investments from American and European funds, including a16z, Greycroft, EBRD, Inovo, Flashpoint, as well as Ukrainian funds SMRK and Flyer One Ventures. The startup had partnerships with 8,000 restaurants, but in the summer of 2022, it announced a 30% reduction in its workforce.

Despite these setbacks, Allset has received recognition for its workplace culture. In 2020, Forbes included the company in its “America’s Best Startup Employers 2020” ranking. Out of over 2,500 candidates, Allset secured the 263rd position, while another Ukrainian-founded company, GitLab, ranked 35th.

In 2019, Stas Matviyenko joined IT Arena as a speaker.