Stability is now the first AI company to secure direct equity investment from all three major music companies.
Stability AI announced on Tuesday (Aug. 25) that it has closed a $76 million Series B strategic funding round, including investments from the three major music companies — Universal Music Group, Sony Music and Warner Music Group — as well as Electronic Arts. This makes Stability the first AI company to receive equity investment from all the majors in a funding round.
According to a company blog post, “the capital will fuel the development of its product suite for creative production, deepen its applied research discipline, and expand its professional services arm.”
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The four entertainment firms join other investors like Stability AI chairman and Napster founder Sean Parker, Coatue, Greycroft, Kadmos Capital and Eric Schmidt in the Series B round, investing for a second consecutive round under new leadership.
