Thanks to an extension of its previous $50 million The Series A round that closed in September, AI video generation startup Higgsfield sold an additional $80 million in shares, bringing its Series A total 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 Mashhabov, former head of generative AI at Snap, who landed at the company after buying his company. previous startup, AI Factory, in 2020 for $166 million. Mashrabov was a co-founder of AI Factory.
Five months after launching its tool, Higgsfield touted 11 million users and said it was a platform of choice for content creators. Nine months later, it now has more than 15 million users and generates annual revenue of $200 million, doubling from a $100 million trajectory in about two months, it says.
The startup believes this puts it in rarefied growth territory, outpacing companies like Lovable, Cursor, OpenAI, Slack and Zoom, according to its report. press release.
Position yourself less like a Retreat of the slope maker and more as a business tool, Higgsfield now points out that the product is primarily used by professional social media marketers, “a major sign that adoption of the platform has evolved beyond casual content creation.”
Of course, it’s still an AI engine. Last month, Higgsfield was used to create a video called “Island Holiday” that showed people mentioned in Epstein’s files alongside fictional characters on “vacation” on Epstein’s island. (Due to its offensive nature, we will not link to viral post X.)
On the other hand, its users also share many projects focused on fashion and Hollywood story telling.
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Investors in the Series A extension include Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.