Stability AI Raises $76 Million in Series B Funding
Stability AI has raised $76 million in Series B funding, bringing total funding under CEO Prem Akkaraju to $232 million since June 2024, the company announced in a press release. The round includes new investors Electronic Arts, Sony Music, Universal Music Group, Warner Music Group, AMD Ventures, and Pacific Alliance Ventures.
Stability AI said the capital will support development of its creative production products, applied research work, and professional services. Coatue, Greycroft, Kadmos Capital, Sean Parker, and Eric Schmidt also participated in the Series B after investing in a previous round under Akkaraju.
The company also said Coatue Co Founder Thomas Laffont has joined its board of directors. The board includes James Cameron, Sean Parker, Greycroft Co Founder and Managing Partner Dana Settle, and Akkaraju.
The funding follows the launch of Stable Audio 3.0, a family of open weight music models trained on fully licensed data. Stability AI said artists can use Stable Audio 3.0 through a Digital Audio Workstation plugin or on StableAudio.com.
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