AI video generation startup Higgsfield has raised an additional $80 million, extending its previous $50 million Series A round that closed in September. This brings the total Series A funding to $130 million and values the company at $1.3 billion.
Higgsfield offers a tool for 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. Mashrabov joined Snap after it acquired his previous startup, AI Factory, for $166 million in 2020, where he was a co-founder.
Five months after its launch, Higgsfield reported 11 million users, calling itself a platform of choice for content creators. Now, nine months in, the company says it has surpassed 15 million users and is on a $200 million annual revenue run rate. It claims this figure doubled from a $100 million trajectory in about two months.
The startup believes this growth outpaces companies like Lovable, Cursor, OpenAI, Slack, and Zoom. To position itself more as a business tool than a casual creator platform, Higgsfield now emphasizes that its product is primarily used by professional social media marketers, signaling an evolution in platform adoption.
The tool, however, remains an engine for a wide variety of content. Last month, it was used to create a controversial viral video called “Island Holiday,” which depicted people mentioned in the Epstein files alongside fictional characters. Due to its offensive nature, many outlets chose not to link to it. On the other hand, users also share many projects focused on fashion and Hollywood-style storytelling.
Investors in this Series A extension include Accel, AI Capital Partners, Menlo Ventures, and GFT Ventures.