Suno raises $400M Series D, valuation $5.4B

The artificial intelligence music generation company Suno has raised over $400 million in a Series D funding round, valuing the company at $5.4 billion. The investment, announced on June 3, more than doubles the company's valuation from seven months ago, when it was worth $2.45 billion.

The funding round was led by Bond Capital, with participation from investors including IVP, Forerunner, Union Square Ventures, Alkeon, and Quiet. Existing investors such as Matrix, Lightspeed, Menlo Ventures, and Schroders Capital also contributed.

Suno's chief executive and co-founder, Mikey Shulman, stated the capital will support expansion, including accelerated hiring, new product development, and overall growth. The company currently employs around 200 people and plans to increase its workforce by up to 70 by year's end. Shulman said the funding will help the company accelerate its mission of helping people express themselves through music and expanding possibilities for artists and creators.

The company reports strong user growth, with over 100 million people having used the service and more than two million paid subscribers as of February. Shulman said user engagement has increased while...