AI video startup, Higgsfield, founded by ex-Snap exec, lands $1.3B valuation | TechCrunch

Through an extension to its previous $50 million Series A round that closed in September, AI video generation startup Higgsfield has sold another $80 million worth of stock, bringing its total Series A to $130 million. The company says it has now hit a $1.3 billion valuation.

Higgsfield offers a tool that allows consumers, creators and social media teams to create and edit AI-generated videos. The company was founded by Alex Mashrabov, former Head of Generative AI at Snap, who landed at the company after it bought his previous startup, AI Factory, in 2020 for $166 million. Mashrabov was a co-founder of AI Factory.

Five months after Higgsfield launched its tool, it touted 11 million users and said it was a platform of choice for content creators. Nine months in, it has now reached over 15 million users and is on a $200 million annual revenue run rate, with that figure doubling from a $100 million trajectory in about two months, it says.

The startup believes this puts it in rarified growth terrain, outpacing companies like Lovable, Cursor, OpenAI, Slack, and Zoom, according to its press release.

To position itself less as an AI slop maker and more as a business tool, Higgsfield now emphasizes that the product is primarily used by professional social media marketers, “a major sign that the platform adoption has evolved beyond casual content creation.”

Of course, it’s still an AI slop engine as well. Last month, Higgsfield was used to create a video called “Island Holiday” that depicted people mentioned in the Epstein files alongside fictional characters on “vacation” on Epstein’s island. (Because of its offensive nature, we’re not going to link to the viral X post.)

On the other hand, its users also share plenty of projects centered on fashion and Hollywood-esque story telling, as well.

Investors in the Series A extension include Accel, AI Capital Partners, Menlo Ventures and GFT Ventures.