Higgsfield, a generative AI platform for video and image creation, closed a $400 million Series B round led by DST Global, quadrupling its valuation to $5.4 billion just eight months after raising $80 million at a $1.3 billion valuation in January. Goldman Sachs and Intel joined the round alongside Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Mirae Asset Capital and NTT DOCOMO Ventures.
Founded in 2023 by former Snap executive Alex Mashrabov, Higgsfield combines its own Soul 2.0 video, image and audio models with third-party models like Google's Veo 3.1. The platform now serves over 30 million users across 238 countries and counts 360 Fortune 500 companies as customers, generating more than 20 million pieces of content each month.
The company's annualized revenue jumped from roughly $20 million a year ago to $700 million in August, with business customers now making up the majority of sales, up from under 25% in January. Mashrabov said the new capital will fund computing capacity, enterprise features and security as Higgsfield pushes further into the corporate market.