By extension to the preceding 50 million dollars Series A round that closed in September, AI video production startup Higgsfield has sold another $80 million worth of shares, bringing its total Series A to $130 million. The company says it has now reached a valuation of $1.3 billion.
Higgsfield offers a tool that allows consumers, creators and social media teams to create and edit AI-generated videos. The company was founded by Alex Mashrabov, former head of Generative AI at Snap, who landed at the company after buying his previous startup, AI Factory, in 2020 for $166 million. Mashrabov was a co-founder of AI Factory.
Five months after Higgsfield launched its tool, it touted 11 million users and said it was a platform of choice for content creators. Nine months later, it has now reached 15 million users and is on a $200 million annual revenue pace, doubling from a $100 million trajectory in about two months, he says.
The startup believes this puts it in rare growth ground, beating out the likes of Lovable, Cursor, OpenAI, Slack and Zoom, according to press release.
Positioning itself less as an AI maker and more as a business tool, Higgsfield now emphasizes that the product is primarily used by social media marketers, “an important sign that adoption of the platform has evolved beyond casual content creation.”
Of course, it’s still an AI engine as well. Last month, Higgsfield was used to create a video called “Island Holiday” that depicted people mentioned in Epstein’s files along with fictional characters on “holiday” on Epstein’s island. (Due to its offensive nature, we are not going to link to the viral X post.)
On the other hand, its users also share many projects focused on fashion and Hollywood storytelling.
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Investors in the Series A expansion include Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.
