AI video startup, Higgsfield, founded by ex-Snap exec, lands $1.3B valuation

Through an extension of his previous one $50 million Series A round closed in September, AI video generation startup Higgsfield has sold an additional $80 million in 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 joined the company after it bought his previous startup, AI Factory, for $166 million in 2020. Mashrabov co-founded AI Factory.

Five months after Higgsfield launched its tool, it attracted 11 million users and said it was a platform of choice for content creators. Nine months later, it has now reached more than 15 million users and has annual revenue of $200 million, with that figure doubling in about two months from a $100 million trajectory, it says.

The startup believes this puts the company in a rare growth area, surpassing companies like Lovable, Cursor, OpenAI, Slack and Zoom. press release.

To position itself less as an AI slop maker and more as a business tool, Higgsfield now emphasizes that the product is primarily used by professional social media marketers, “an important sign that the platform’s adoption has evolved beyond casual content creation.”

Of course, it’s still an AI slop engine too. Last month, Higgsfield was used to create a video called ‘Island Holiday’, which depicted people named in the Epstein files alongside fictional characters ‘holidaying’ on Epstein’s island. (We’re not going to link to the viral X-post due to its offensive nature.)

On the other hand, the users also share numerous projects focused on fashion and Hollywood-style storytelling.

Investors in the Series A expansion include Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.