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

Higgsfield, an innovative AI video generation startup founded by former Snap executive Alex Mashrabov, has achieved a significant milestone by reaching a valuation of $1.3 billion. This accomplishment comes on the heels of an extension to its Series A funding round, which raised an additional $80 million, bringing the total for this round to an impressive $130 million. Established to empower consumers, creators, and social media teams, Higgsfield provides a cutting-edge tool that facilitates the creation and editing of AI-generated videos. Mashrabov, who previously served as the Head of Generative AI at Snap, co-founded Higgsfield after his prior venture, AI Factory, was acquired by Snap in 2020 for $166 million. Since its launch, Higgsfield has made rapid strides in user adoption, amassing over 15 million users within just nine months. The company reports a remarkable annual revenue run rate of $200 million, a figure that has doubled in a mere two months from an earlier projection of $100 million. This growth trajectory positions Higgsfield in a rarefied space, outpacing established companies such as Lovable, Cursor, OpenAI, Slack, and Zoom. In an effort to redefine its image, Higgsfield is shifting its marketing focus towards professional social media marketers, highlighting its capabilities as a business tool rather than just an AI content generator. However, the platform also continues to cater to casual content creators. Recently, Higgsfield gained attention for a controversial video titled “Island Holiday,” which featured individuals from the Epstein files alongside fictional characters. Despite the backlash, the platform remains a popular choice for a variety of creative endeavors, including projects related to fashion and storytelling. The latest investment round saw participation from notable investors such as Accel, AI Capital Partners, Menlo Ventures, and GFT Ventures.