AI Video Startup Higgsfield Secures $1.3 Billion Valuation Led by Former Snap Executive
AI video generation company Higgsfield has announced a remarkable valuation of $1.3 billion following an extension of its Series A funding round, which added an impressive $80 million to the previously secured $50 million. This increase brings the total for the Series A round to $130 million, reflecting significant investor confidence in the startup’s potential.
Founded by Alex Mashrabov, the former Head of Generative AI at Snap Inc., Higgsfield has developed a platform that empowers users, ranging from social media teams to content creators, to produce and edit AI-generated videos seamlessly. Mashrabov, who co-founded AI Factory before its acquisition by Snap for $166 million in 2020, is steering the company towards becoming a leading player in AI video solutions.
The platform has experienced rapid user growth, reaching 15 million users just nine months post-launch, with an impressive annual revenue run rate of $200 million, which has doubled in recent months. Higgsfield aims to establish itself as a crucial tool for professional social media marketers, moving beyond its initial perception as an AI content generator.
Despite its professional focus, Higgsfield remains versatile, with users creating a diverse range of video content, from fashion projects to edgy narratives. Recently, it faced scrutiny when its technology was used for a controversial video linked to the Epstein files, illustrating the dual nature of AI capabilities.
The successful funding round included participation from notable investors such as Accel, AI Capital Partners, Menlo Ventures, and GFT Ventures, solidifying Higgsfield’s position in the competitive landscape of AI video technology.
