Suno, the most prominent AI music generation platform in the music industry, has raised $400 million at a $5.4 billion post-money valuation, the company announced on Wednesday.
Suno said Bond Capital, the venture capital firm whose portfolio includes OpenAI, Substack and Kalshi, led the round along with IVP, Forerunner, Union Square Ventures, Alkeon and Quiet, with Matrix, Lightspeed, Menlo Ventures, and Schroders Capital participating as well. Notably, Suno also said leading artists, songwriters and producers” also participated in the round, though the company didn’t disclose who.
The funding round comes just six months after Suno previously announced a $250 million funding round that had valued the company at $2.45 billion.
“We’ve seen Suno used by professional producers and songwriters, but also by millions of people making music for the first time – because music creation is no longer the domain of a niche few,” Suno CEO Mikey Shulman said in a blog post announcing the new funding round on Wednesday. “It is becoming one of the most human things we do, a way people communicate, remember, and connect. What started as a simple idea has grown far beyond what we imagined, and today, we’re excited to share an important milestone.”
