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

Through an hold to its erstwhile $50 million Series A circular that closed successful September, AI video procreation startup Higgsfield has sold different $80 cardinal worthy of stock, bringing its full Series A to $130 million. The institution says it has present deed a $1.3 cardinal valuation.

Higgsfield offers a instrumentality that allows consumers, creators and societal media teams to make and edit AI-generated videos. The institution was founded by Alex Mashrabov, erstwhile Head of Generative AI astatine Snap, who landed astatine the institution aft it bought his previous startup, AI Factory, successful 2020 for $166 million. Mashrabov was a co-founder of AI Factory.

Five months aft Higgsfield launched its tool, it touted 11 cardinal users and said it was a level of prime for contented creators. Nine months in, it has present reached implicit 15 cardinal users and is connected a $200 cardinal yearly gross tally rate, with that fig doubling from a $100 cardinal trajectory successful astir 2 months, it says.

The startup believes this puts it successful rarified maturation terrain, outpacing companies similar Lovable, Cursor, OpenAI, Slack, and Zoom, according to its press release.

To presumption itself little arsenic an AI slop shaper and much arsenic a concern tool, Higgsfield present emphasizes that the merchandise is chiefly utilized by nonrecreational societal media marketers, “a large motion that the level adoption has evolved beyond casual contented creation.”

Of course, it’s inactive an AI slop motor arsenic well. Last month, Higgsfield was utilized to make a video called “Island Holiday” that depicted radical mentioned successful the Epstein files alongside fictional characters connected “vacation” connected Epstein’s island. (Because of its violative nature, we’re not going to nexus to the viral X post.)

On the different hand, its users besides stock plentifulness of projects centered connected manner and Hollywood-esque communicative telling, arsenic well.

Investors successful the Series A hold see Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.