Investment: “Stability AI raises $76M”
Stability AI, the London-founded AI company behind the Stable Diffusion model that builds AI products for professional creatives across music, gaming and entertainment, has raised $76m in a Series B funding round, the company said.
The Series B includes new investors Sony Music Group, Universal Music Group and Warner Music Group, alongside gaming giant Electronic Arts, with AMD Ventures and Pacific Alliance Ventures also participating. Other participants named in the round include existing investors Coatue and Greycroft, former Google CEO Eric Schmidt and Napster co-founder Sean Parker; director James Cameron is also noted as a member of the company’s board.
Founded in London in 2019, Stability AI is best known for the Stable Diffusion model and positions itself as a provider of purpose-built AI tools for creators in music, gaming and entertainment. The company has shifted its operational focus from the UK to the US, having closed its London office and established an office in Los Angeles. Under CEO Prem Akkaraju, who took the role in June 2024, Stability AI has released new models this year including one capable of producing professional-grade music tracks longer than six minutes.
The company said the $76m round brings its total funding to $232m, inclusive of two equity rounds and convertible notes. The financing follows deals struck with Warner and Electronic Arts to build new AI models that leverage their catalogues and intellectual property.
Stability AI said it will use the funds to support creative production and research as it continues to develop AI models and partnerships across the entertainment and gaming industries.
“Our investors set us up for long-term success because they provide not only capital, but expertise, credibility, and direct connection to artists.”
