Higgsfield Raises $400 Million at $5.4 Billion Valuation
Higgsfield secured $400 million in funding at a $5.4 billion valuation, a significant leap from its $1.3 billion valuation in January. This marks a four-fold increase in eight months.
Key Highlights:
- Series B Funding: DST Global led the round, with Goldman Sachs, Intel Capital, Liberty Global Tech Ventures, Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Mirae Asset Capital, and NTT DOCOMO Ventures also participating.
- Revenue Growth: The company’s annualized revenue reached $700 million this month, up from approximately $20 million a year earlier. This growth is based on a run rate rather than booked annual revenue.
- Enterprise Focus: In contrast to its initial consumer focus, Higgsfield now serves 390 Fortune 500 companies, with brands like Dollar Shave Club generating multiple marketing videos daily using the company’s tools.
- Product Utilization: The funding highlights the practical applications of Higgsfield’s technology, which includes tools like Soul 2.0 for image generation and Keyframes for storyboards.
- Strategic Investors: The cap table includes investors from various sectors, such as compute (Intel Capital), connectivity and distribution (Liberty Global Tech Ventures, NTT DOCOMO Ventures), media (Smash Capital, formerly Kevin Mayer of Disney), and advertising.
"The new funding will help us accelerate our move upmarket," said founder Alex Mashrabov in a Financial Times interview.
This rapid growth and shift towards enterprise customers underscores the potential of AI technology in various industries.