AI video startup Higgsfield has secured a $1.3 billion valuation after extending its Series A funding round. The company sold an additional $80 million worth of stock, bringing its total Series A funding to $130 million.
Higgsfield's rapid growth is underscored by its user base and revenue trajectory. Just five months after launching its AI-powered video creation and editing tool, the platform boasted 11 million users. Now, nine months in, the company reports over 15 million users and an annual revenue run rate of $200 million. Notably, this revenue run rate doubled from $100 million in approximately two months, indicating an accelerating growth phase.
The AI-driven video generation market is experiencing significant expansion, fueled by the increasing demand for engaging content across social media and digital platforms. Higgsfield's tool caters to consumers, creators, and social media teams, positioning it within a competitive landscape that includes both established players and emerging startups. The company claims its growth surpasses that of notable tech companies like Lovable, Cursor, OpenAI, Slack, and Zoom, suggesting a disruptive potential within the sector.
Higgsfield was founded by Alex Mashrabov, formerly the head of Generative AI at Snap. Mashrabov joined Snap after it acquired his previous startup, AI Factory, in 2020 for $166 million. This acquisition and Mashrabov's subsequent role at Snap provided him with valuable experience in the generative AI space, which he is now leveraging at Higgsfield. The company is actively working to position itself as a business-focused tool, moving away from the perception of solely generating low-quality AI content.
With its substantial funding and rapid user acquisition, Higgsfield is poised to further develop its AI video generation capabilities and expand its market reach. The company's focus on enterprise applications and its commitment to high-quality output could be key differentiators as the AI video market matures. The next phase for Higgsfield will likely involve scaling its infrastructure, refining its AI algorithms, and exploring new partnerships to solidify its position in the evolving landscape.
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