Suno Raises $400 Million Against $5.4 Billion Valuation
The funding comes as the AI music powerhouse is about to unveil its first music model developed in collaboration with the music industry
Suno, the largest AI music company, has announced a new $400 million round of funding. The investment comes against a new valuation of $5.4 billion.
Follow the money:
Bond Capital led this round.
IVP, Forerunner, Union Square Ventures, Alkeon, and Quiet participated as well.
Existing investors such as Matrix, Lightspeed, Menlo Ventures, and Schroders Capital also contributed.
Suno claims that “some of the best artists, producers, songwriters, and people from across the music industry” were involved.
In November of last year, Suno was valued at $2.45 billion.
What’s new:
Buried in the blog post announcing the funding, Suno stated that this money comes as the company is rolling out its “first music model developed in partnership with the music industry.”
The nature of this partnership is unclear as Suno’s deals with the major labels have made little headway in recent months.
The blog post provides no information on how the upcoming model will differ from its current products in terms of functionality.
The company provided the following description: "We believe there’s a huge opportunity to create new experiences for fans while helping artists reach audiences, build community, and unlock new creative and economic possibilities."
👋 Disclosures & Transparency Block
This article was written from a press release provided by Suno.
We covered it because Suno is the biggest player in AI music.
