AI Music Firm Suno Raises $125M in Latest Funding Round
Written by djfrosty on May 21, 2024
Suno, a generative AI music company, has raised $125 million in its latest funding round, according to a post on the company’s blog. The AI music firm, which is one of the rare start-ups that can generate voice, lyrics and instrumentals together, says it wants to usher in a “future where anyone can make music.”
Suno allows users to create full songs from simple text prompts. While most of its technology is proprietary, the company does lean on OpenAI’s ChatGPT for lyric and title generation. Free users can generate up to 10 songs per month, but with its Pro plan ($8 per month) and Premier plan ($24 per month), a user can generate up to 500 songs or 2,000 songs, respectively, on a monthly basis and are given “general commercial terms.”
The company names some of its investors in the announcement, including Lightspeed Venture Partners, Nat Friedman and Daniel Gross, Matrix and Founder Collective. Suno also says it has been working closely with a team of advisors, including 3LAU, Aaron Levie, Alexandr Wang, Amjad Masad, Andrej Karpathy, Aravind Srinivas, Brendan Iribe, Flosstradamus, Fred Ehrsam, Guillermo Rauch and Shane Mac.
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Suno is commonly believed to be one of the most advanced AI music models on the market today, but in past interviews, the company has not disclosed what materials are included in its training data. Expert Ed Newton-Rex, founder of Fairly Trained and former vp of audio for Stability AI, warned in a recent piece for Music Business Worldwide that it seems likely that Suno was trained on copyrighted material without consent given the way he has been able to generate music using the model that closely resembles copyrights.
In a recent Rolling Stone story about the company, investor Antonio Rodriguez mentioned that Suno’s lack of licenses with music companies is not a concern to him, saying that this lack of such licenses is “the risk we had to underwrite when we invested in the company, because we’re the fat wallet that will get sued right behind these guys.… Honestly, if we had deals with labels when this company got started, I probably wouldn’t have invested in it. I think that they needed to make this product without the constraints.”
Suno representatives have previously said, however, that their model will not let anyone create music by using prompts like “ballad in the style of Radiohead” or employ the voices of specific artists.
Many AI companies, including OpenAI, argue that training on copyrights without licenses in place is “fair use,” but the legality of this practice is still being determined in the United States. The New York Times has launched a lawsuit against OpenAI for training on its copyrighted archives without consent, credit or compensation, and Universal Music Group, Concord, ABKCO and other music publishers have filed a lawsuit against Anthropic for using its lyrics to train the company’s large language model.
In the Suno blog post, CEO Mikey Shulman wrote: “Today, we are excited to announce we’ve raised $125 million to build a future of music where technology amplifies, rather than replaces, our most precious resource: human creativity.”
“We released our first product eight months ago, enabling anyone to make a song with just a simple idea,” he continued. “It’s very early days, but 10 million people have already made music using Suno. While GRAMMY-winning artists use Suno, our core user base consists of everyday people making music — often for the first time.
“We’ve seen producers crate digging, friends exchanging memes and streamers co-creating songs with stadium-sized audiences. We’ve helped an artist who lost his voice bring his lyrics back to life again after decades on the sidelines. We’ve seen teachers ignite their students’ imaginations by transforming lessons into lyrics and stories into songs. Just this past weekend, we received heartwarming stories of mothers moved to tears by songs their loved ones created for them with a little help from Suno.”