Higgsfield raises $400M Series B, quadrupling its valuation in 8 months to $5.4B
Higgsfield, founded by former Snap exec Alex Mashrabov, lets users create AI images and videos.
Higgsfield, the AI image and video creation platform founded by former Snap executive Alex Mashrabov in 2023, has just secured a $400 million Series B round, bringing its valuation to a staggering $5.4 billion. This significant milestone comes just eight months after the company's initial $1.3 billion valuation.
Higgsfield's innovative tools, such as the Cinema Studio and Marketing Studio, have garnered attention for enabling filmmakers and marketing teams to create AI-generated movies and marketing content. The company has made headlines this year by premiering AI-generated movies at prestigious events like Cannes and New York.
With $700 million in annualized revenue and a user base of 30 million across 200 countries, Higgsfield has been gaining traction in the enterprise sector. The company now collaborates with 390 of the Fortune 500, signaling a growing interest from large corporations in leveraging video AI for their marketing and creative workflows.
The latest round of funding, led by DST Global, will primarily be used for business expansion, including hiring and product development, as well as for the ever-growing computational demands of video AI. As Mashrabov explained, "Video is one of the most compute-intensive domains in AI," with just one minute of video requiring the processing of 60,000 words.
Securing reliable compute capacity has become a necessary investment to remain competitive in the industry, alongside established players like Synthesia and Runway. Additionally, Higgsfield has attracted support from other prominent investors, such as Goldman Sachs Alternatives, Valor Capital, and Tribe Capital.
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