Suno raises another $400M despite copyright lawsuits

Suno announced a $400 million Series D round that values the company at $5.4 billion. The funding comes roughly seven months after the company raised capital at a $2.45 billion valuation. The company continues to face copyright lawsuits from Universal Music Group, Sony, and GEMA. Suno has stated that it trains its artificial intelligence on copyrighted songs and argues the practice falls under fair use. Warner Music Group settled its claims and entered a licensing agreement with the company. Record labels have expanded their allegations against Suno. The companies initially claimed training on 560 copyrighted works. They later amended the complaint to include more than 61,000 additional songs used without permission. Suno shows continued user engagement. The application ranks near the top of music charts in the App Store. Users generated more than 7 million songs daily at the time of the prior funding round, according to a pitch deck. Bond Capital led the Series D round. Additional investors include IVP, Forerunner, Union Square Ventures, Alkeon, and Quiet. Prior backers Matrix, Lightspeed, Menlo Ventures, and Schroders Capital also took part. Suno noted participation from artists, producers, songwriters, and music industry figures without naming any individuals.