Higgsfield raises $400M at a $5.4bn valuation

Higgsfield, an AI image- and video-generation startup, said it had raised $400 million in a Series B round at a $5.4 billion valuation, led by DST Global with participation from Tribe Capital, Goldman Sachs Growth Equity, Smash Capital, Fifth Wall and others. The valuation is roughly four times the $1.3 billion Higgsfield was reportedly worth after its Series A round, itself only eight months earlier.

The company was founded by Alex Mashrabov, a former Snap executive who had previously built the computer-vision startup AI Factory, which Snap acquired in 2019. In its announcement, Higgsfield said it had grown to more than 30 million users across 238 countries, with the United States its largest market, and that annualised revenue had reached $700 million. It said its tools were used by roughly 390 Fortune 500 companies across advertising, media, entertainment, fashion, retail and financial services for producing visual content professionally rather than as a novelty.

The round is one of several large raises this year for companies building consumer- and creator-facing generative image and video tools, a category that also includes Runway, Luma and Pika, and reflects investors’ continued willingness to price fast-growing AI application companies well ahead of independently audited profitability. Supermodel and investor Natalia Vodianova Arnault joined the round as an advisor.