Stability AI, a company focused on developing purpose-built AI products for professional creatives across music, gaming and entertainment, raised $76 million in a Series B round. The news brings total funding to $232 million, inclusive of two equity rounds and convertible notes, since Prem Akkaraju was appointed chief executive in June 2024. The capital will fuel the development of its product suite for creative production, deepen its applied research discipline and expand its professional services arm.
The round incorporates a new group of investors across entertainment and technology, including interactive entertainment innovator Electronic Arts, global leaders in music entertainment, Sony Music Group, Universal Music Group and Warner Music Group, and investment firms AMD Ventures and Pacific Alliance Ventures.
“This unmatched group of investors is an affirmation of our vision where generative AI empowers every producer, musician and storyteller,” said Akkaraju in a statement. “Stability is unique in the AI field because we are creative people making tools for creatives. Developing industry-defining technology means assembling a team of industry-defining titans, and that’s what we have done here.”
They join an already strong roster of notable investors across the entertainment and technology industries, including Coatue, Greycroft, Kadmos Capital, Lightspeed Venture Partners, Mantis Capital, Sound Ventures and WPP, alongside individual investors Sean Parker, Eric Schmidt, James Cameron, Kevin Mayer, Mark Burnett, Patrick Whitesell, Prem Akkaraju, Reuben Brothers, Robert Nelsen and Vivi Nevo.
Coatue, Greycroft, Kadmos Capital, Sean Parker and Eric Schmidt are also participating in the Series B, investing for a second consecutive round under new leadership. Additionally, Stability AI has announced that Coatue Co-Founder Thomas Laffont has joined its board of directors.
This round includes investments from existing strategic partners Electronic Arts, Universal Music Group and Warner Music Group. WPP, a global leader in marketing services, has been a strategic partner and investor throughout Stability AI’s growth under new leadership.
The announcement comes on the heels of the launch of Stable Audio 3.0, a family of open-weight music models trained on fully licensed data. Artists can now bring Stable Audio 3.0 into their workflow through a new DAW (Digital Audio Workstation) plugin or directly on StableAudio.com.
“While others are building generalized AI, Stability AI is building creative tools and doing it alongside the artists, studios and rights holders whose work defines the field,” said Thomas Laffont, co-founder of Coatue, in a statement. “I’m glad to be joining Prem and the team.”
The board includes Academy Award-winning filmmaker James Cameron; entrepreneur and philanthropist Sean Parker, the former president of Facebook; and Greycroft Co-Founder and Managing Partner Dana Settle.
Information for this story was provided by Stability AI.
