Stability AI has raised $76 million in Series B funding, bringing the generative AI company’s total financing under CEO Prem Akkaraju to $232 million across two equity rounds and convertible notes.
The financing brings together a notable group of entertainment and technology investors as Stability AI focuses increasingly on purpose-built AI products for professional creative work across music, gaming and entertainment.
New investors include Electronic Arts, Sony Music Group, Universal Music Group, Warner Music Group, AMD Ventures and Pacific Alliance Ventures.
Existing investors Coatue, Greycroft, Kadmos Capital, Sean Parker and Eric Schmidt also participated, marking their second consecutive investment round under Stability AI’s current leadership.
The broader investor base includes Lightspeed Venture Partners, Mantis Capital, Sound Ventures and WPP, along with individuals including James Cameron, Kevin Mayer, Mark Burnett, Patrick Whitesell, Robert Nelsen and Vivi Nevo.
Stability AI plans to use the new capital to expand its creative production product suite, deepen applied research and grow its professional services business.
Several of the new investors already have strategic relationships with Stability AI, including Electronic Arts, Universal Music Group and Warner Music Group.
The company has also worked with WPP as both a strategic partner and investor.
The financing follows the launch of Stable Audio 3.0, a family of open-weight music models trained on fully licensed data.
Stable Audio 3.0 can be used through a digital audio workstation plugin or directly through Stability AI’s Stable Audio platform.
Stability AI also appointed Coatue Co-Founder Thomas Laffont to its board.
He joins a board that includes filmmaker James Cameron, former Facebook President Sean Parker, Greycroft Co-Founder and Managing Partner Dana Settle and Akkaraju, who previously served as CEO of Weta Digital.
The company plans to continue developing AI tools built around professional creative workflows across music, gaming and the broader entertainment industry.
KEY QUOTES:
“This unmatched group of investors is an affirmation of our vision where generative AI empowers every producer, musician, and storyteller. Stability is unique in the AI field because we are creative people making tools for creatives.”
“Our investors set us up for long-term success because they provide not only capital, but expertise, credibility, and direct connection to artists.”
Prem Akkaraju, CEO Of Stability AI
“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. I’m glad to be joining Prem and the team.”
Thomas Laffont, Co-Founder Of Coatue
