Voice assistant company SoundHound raises $100 million

SoundHound, a startup that provides voice-assistant tech to other companies, has raised $100 million in new funding from Tencent, Daimler, Hyundai, Midea Group, and Orange.

Why it matters: Voice assistant tech has been exploding in popularity thanks to smart speakers like Amazon's Echo and Google Home, so it's no surprise SoundHound's investors range from automakers to a telecom carrier.