Technology
Stability AI secures $76 million in funding round with major music and gaming investors
The Series B round includes support from the top three major record labels and Electronic Arts following IP partnerships.
The short version
- Stability AI raised $76 million in a Series B round led by investors including Universal Music Group, Warner Music Group, Sony Music Entertainment, and Electronic Arts.
- The capital injection follows strategic deals to train AI models using intellectual property and catalogs from participating music and gaming partners.
- The new capital brings total investment under CEO Prem Akkaraju to $232 million, with Coatue co-founder Thomas Laffont joining the company's board.
Key facts
- Stability AI raised $76 million in a Series B funding round.[Variety]
- Investors in the round include Universal Music Group, Warner Music Group, Sony Music Entertainment, Electronic Arts, AMD Ventures, and Pacific Alliance Ventures.[Variety]
- The funding follows agreements Stability AI made with Universal Music Group, Warner Music Group, and Electronic Arts to build AI models using their catalogs and intellectual property.[Variety]
- The latest round increases the total capital raised under CEO Prem Akkaraju, who joined in 2024, to $232 million.[Variety]
- Returning investors include Eric Schmidt, Sean Parker, Greycroft, Kadmos Capital, and Coatue, whose co-founder Thomas Laffont is joining Stability AI's board.[Variety]