Through the extension to the previous $50 million Series A round that closed in September, AI video generation startup Higgsfield has sold another $80 million of shares, bringing the total Series A to $130 million. The company says it has now raised $1.3 billion.
Higgsfield offers tools that allow consumers, creators and social media teams to create and edit AI-generated videos. The company was founded by Alex Mashrabov, the former Head of Generative AI at Snap, who landed at the company after its purchase. previous startup, AI Factory, in 2020 is 166 US Dollars. Mashrabov is one of the founders of the AI Factory.
Five months after Higgsfield launched the tool, it cites 11 million users and says it’s the platform of choice for content creators. Nine months in, it has now reached over 15 million users and $200 million in annual revenue, with a figure that doubled from $100 million in two months, he said.
The startup believes this puts it in a rarified area of growth, surpassing companies like Lovable, Cursor, OpenAI, Slack, and Zoom, according to a press release.
To position yourself less as Back up the slop Manufacturers and others as business tools, Higgsfield now emphasizes that the product is mainly used by professional social media marketers, “a major sign that the adoption of the platform has expanded beyond casual content creation.”
Of course, it’s still a slop AI engine as well. Last month, Higgsfield used it to make a video called “Island Holiday” that depicted people named in Epstein’s files along with fictional characters on “holiday” on Epstein’s island. (Due to its offensive nature, we will not link to X virus posts.)
In addition, users also share many projects that focus on fashion and Hollywood-esque stories as well.
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Investors in the Series A extension include Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.