Stability AI said it closed a $76 million Series B and is refocusing on creative tools.
Why it matters: The raise shows investors still see room for specialized generative-AI tools tied to media workflows. It also gives Stability AI more runway as it tries to convert Stable Diffusion's brand into a broader business.
- Stability AI said the round raised $76 million and brought total funding to $232 million.
- The company said the financing was announced Aug. 25 and is aimed at creative-production products, applied research and professional services.
- Stability AI said investors include Universal Music Group, Sony Music Group, Warner Music Group, Electronic Arts and AMD Ventures.
- Existing backers Coatue, Greycroft, Kadmos Capital, Sean Parker and Eric Schmidt also participated.
Stability AI said it closed a $76 million Series B as it tries to strengthen its position in generative AI. The company, best known for Stable Diffusion, said the round brings total funding to $232 million. The company said the money will go toward creative-production products, applied research and its professional-services arm.
That focus matters because Stability AI is narrowing in on tools for music, gaming and entertainment creators rather than broad, general-purpose AI. CEO Prem Akkaraju said the financing is an affirmation of the company's vision for generative AI in creative work.
TechCrunch reported the investor group includes Universal Music Group, Sony Music Group, Warner Music Group, Electronic Arts, AMD Ventures and Pacific Alliance Ventures. Stability AI said existing backers Coatue, Greycroft, Kadmos Capital, Sean Parker and Eric Schmidt also joined the round.
The financing comes as Stability AI continues to deal with copyright litigation tied to Stable Diffusion, including disputes in the U.K. and the U.S. The company was founded in 2019 and launched Stable Diffusion in August 2022.
By the numbers
- 76 million - size of the Series B Stability AI said it closed
- 232 million - total funding the company said it has now raised
- 2019 - year Stability AI was founded
Yes, but: The total funding figure is based on Stability AI's own statement, and the broader litigation over Stable Diffusion still hangs over the business.