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16h ago
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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.

Mashrabov, who previously headed Generative AI at Snap, founded Higgsfield after Snap acquired his earlier startup, AI Factory, in 2020 for $166 million. He was also a co-founder of AI Factory.

Higgsfield offers an AI-powered tool designed for creating and editing videos for consumers, creators, and social media teams. The company has experienced rapid growth since launching its tool, reaching over 15 million users within nine months, according to TechCrunch. Five months after launch, the company touted 11 million users and positioned itself as a platform of choice for content creators.

The company's success positions it for significant revenue growth in the rapidly evolving AI video landscape, according to sources. Higgsfield's tool has gained traction among social media marketers.

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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