Suno raises $400M Series D

The round was announced on June 3, 2026, not in July as the roundup lists it, and valued Suno at $5.4 billion. Bond Capital led, with IVP, Forerunner, Union Square Ventures, Alkeon and Quiet. Existing investors Matrix, Lightspeed, Menlo Ventures and Schroders Capital also contributed. Proceeds are earmarked for model training infrastructure, product engineering hiring and global rollout of the music creation software. In November 2025 Suno raised $250 million at a $2.45 billion valuation on about $200 million in revenue. One report cites more than 2 million paid subscribers and projected annual revenue of $300 million. The legal picture is unsettled: Universal Music Group and Sony Music are still litigating, with a fair-use hearing scheduled for July 2026. Warner Music Group settled in November 2025, creating a licensing partnership. For AI founders, the round shows investors will fund a generative media company at a doubled valuation while copyright claims remain open, provided revenue and subscriber growth are visible. It also shows the Warner deal as a template: a licensing settlement with one rightsholder can sit alongside a large raise. Training data provenance is now a live factor in how these companies are financed.