Every major consumer platform is built on a new behavior. TikTok made short-form video consumption mainstream. Netflix changed how we watch TV. Suno is doing something different: making creation itself a form of entertainment.
We’re thrilled to double down on Suno in its $400M+ round at $5.4B led by Bond Capital and joined by IVP and Forerunner. The average session length of all users has now reached 55 minutes, comparable to TikTok and Youtube and well ahead of Spotify and X (both ~30 minutes). What’s driving this phenomenon?
Redefining the 1:9:90 Rule
For decades, digital platforms have largely followed the 1:9:90 rule: 1% of users create content, 9% engage, while 90% passively consume.
AI is lowering the barriers (time, skill, confidence) to creation and revealing something important: Most people want to do more than just consume. On Suno, creation spans professional musicians sketching ideas, video creators making soundtracks, brands experimenting with audio, and everyday fans making songs for themselves, their friends, and their communities.
Creative Entertainment: The Thesis
CEO Mikey Shulman describes this behavior as “creative entertainment,” the core idea that the act of making something is itself the purpose, not merely a means to a finished product.
Suno is just scratching the surface of this new mode of human creative expression, and users generate millions of songs a day. Each interaction helps Suno better understand creative intent, taste, and what creators want to make next.
This is a broader thesis across Menlo: AI will not only change how content is produced, but how people spend their time. We see it in music with Suno, in video with Higgsfield, in solopreneurship with Lovable, and in coding and everyday life with Anthropic.
The TikTok Moment
When we first led Suno’s Series C in the fall of 2025, few people outside of tech had heard of the company, despite how quickly the company was growing. For consumer platforms, cultural moments matter because they turn product utility into shared behavior. This spring, the first cultural inflection point happened when the product drove a viral trend that swept TikTok and Instagram, with creators turning ordinary prompts, jokes, and life moments into songs. Then, just last month, the “Puerto Rico” song created on Suno was trending and called the “song of the summer.” With these successes and others, Suno reached #11 in the global App Store and #1 in music, and leapt to the top of the music charts in dozens of countries.
Generational consumer companies are built on new consumer behaviors. Since last fall, the acceleration has only gotten clearer in the numbers, cultural moments, and user engagement. Congratulations to Mikey, Georg, Martin, and the whole team. We’re proud to be your partners for what comes next.
Amy came to Menlo Ventures to grow the firm’s consumer technology and gaming practice and back founders building new products at the forefront of emerging platform shifts. As an investor, Amy seeks founders who share her obsession with products that define how people work, live, and play. She believes that emerging…
