ByConor Murray,
Forbes Staff.
Suno, an AI platform that turns text prompts into songs, said Wednesday it raised $250 million and is valued at $2.45 billion as it disrupts the music industry, with artists generated using its technology increasingly hitting the charts and major record labels suing for copyright infringement.
Suno said in a statement Wednesday it raised $250 million in a funding round led by Menlo Ventures, with participants including NVentures, Nvidia’s venture capital arm, and Hallwood Media, a music management company that has increasingly invested in AI music.
Suno said the money will allow it to invest more in developing tools for users, also claiming nearly 100 million people have created music on its platform since its launch in 2023.
