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Snap Alum's AI Video Startup Higgsfield Soars to $1.3B

Higgsfield, an AI video generation startup founded by former Snap executive Alex Mashrabov, has reached a $1.3 billion valuation after securing an additional $80 million in funding. The funding, an extension to its previous Series A round, brings the total Series A funding to $130 million, according to TechCrunch.

Higgsfield offers an AI-powered tool designed for consumers, creators, and social media teams to create and edit videos. Mashrabov, previously the head of Generative AI at Snap, founded Higgsfield after Snap acquired his previous startup, AI Factory, in 2020 for $166 million. He was also a co-founder of AI Factory.

The company's tool has gained traction, particularly among social media marketers. According to Higgsfield, the platform has reached over 15 million users nine months after its launch. Five months after launch, the company touted 11 million users, positioning itself as a platform of choice for content creators.

The new funding positions Higgsfield for significant revenue growth in the rapidly evolving AI video landscape, according to TechCrunch. The company has not released specific details on how it intends to use the new capital.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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