Massachusetts-based Suno raises over $400 million, values company at $5.4B
Suno, the Massachusetts-based startup that lets you create songs from simple text prompts, has scored over $400 million in new funding, bumping its value up to $5.4 billion.
The round was led by Bond Capital, with big names like IVP and Union Square Ventures joining in.
Independent artists sue Suno and Udio
This huge raise comes less than a year after Suno brought in $250 million at a much lower valuation.
But it's not all smooth sailing: more than 1,800 independent artists are backing class-action lawsuits against Suno and rival AI music startup Udio for allegedly using their copyrighted work to train their AI without permission.
Suno settled with Warner Music Group last year and is now working on launching an official AI music model with it, hoping to build better industry partnerships as it navigates these challenges.