Stability AI Raises $76M Series B, Backed by Major Entertainment Companies
aiinsider ·
Stability AI, the startup behind Stable Diffusion, raised $76 million in a Series B round, bringing its total funding to $232 million. The round was backed by Universal Music Group, Sony Music Group, Warner Music Group, Electronic Arts, AMD Ventures, and Pacific Alliance Ventures. CEO Prem Akkaraju, who joined in 2024, said the funding validates the company's vision for generative AI supporting producers, musicians, and storytellers. Stability plans to use the capital to expand its creative production product suite and grow its professional services division. Since 2019, the company has partnered with entertainment firms, including joint development deals with Universal and EA in October and Warner in November. The company largely prevailed in a UK copyright lawsuit from Getty Images, though a related US case is ongoing. Stability was also sued in 2023 by co-founder Cyrus Hodes, who claimed he was misled into selling his stake.
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