In an extension to its previous $50 million Series A round that closed in September, AI video generation startup Higgsfield sold an additional $80 million worth of stock, bringing its total Series A round to $130 million. The company announced that it is now valued at $1.3 billion.
Higgsfield provides tools for 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. He joined the company after acquiring his previous startup, AI Factory, for $166 million in 2020. Mashrabov was a co-founder of AI Factory.
Five months after Higgsfield released the tool, the company touted its 11 million users and said it was the platform of choice for content creators. Nine months later, the company says it has more than 15 million users and $200 million in annual revenue, doubling from a $100 million orbit in about two months.
According to a press release, the startup believes this will put it in a unique growth space ahead of companies like Lovable, Cursor, OpenAI, Slack, and Zoom.
To position his company as a business tool rather than an AI slop maker, Higgsfield stresses that the product is primarily used by professional social media marketers, “a big sign that adoption of the platform is evolving beyond casual content creation.”
Of course, this is also an AI slop engine. Last month, Mr Higgsfield was tapped to produce a video called “Island Holiday,” which depicts people in Mr Epstein’s file alongside a fictional character spending a “vacation” on Mr Epstein’s island. (Due to their offensive nature, I will not link to viral X posts.)
Meanwhile, users are also sharing a number of projects centered around fashion and Hollywood-style storytelling.
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Investors in the Series A expansion include Accel, AI Capital Partners, Menlo Ventures, and GFT Ventures.
