According to the Financial Times, AI video generation platform Higgsfield has raised $400 million (approximately RMB 2.699 billion at current exchange rates) from investors including DST Global, Goldman Sachs, Liberty Global and Intel, valuing the company at $5.4 billion (approximately RMB 36.443 billion at current exchange rates). As it further expands its enterprise subscription business, the two-year-old startup is accelerating its commercialization efforts.
The funding comes just eight months after Higgsfield's previous round. Founded by former Snapchat executive Alex Mashrabov, the company raised $80 million (approximately RMB 540 million at current exchange rates) at a valuation of $1.3 billion (approximately RMB 8.773 billion at current exchange rates) as enterprise adoption of its AI technology continued to grow.
Higgsfield launched in 2025, and its annualized revenue reached $700 million (approximately RMB 4.724 billion at current exchange rates) in August this year, up from just $20 million (approximately RMB 135 million at current exchange rates) about a year earlier. Higgsfield now has more than 30 million users across 238 countries and regions, with the United States as its largest market.
Mashrabov told the Financial Times: “This new funding will help us accelerate our move upmarket. Most of our revenue now comes from enterprise customers. By comparison, enterprise customers accounted for less than 25% of total revenue in January this year.”
Higgsfield currently sits at the intersection of social media marketing, entertainment and the creator economy. A new generation of creators is using AI to produce more polished visual content, while Higgsfield has recently shifted its focus further toward enterprise marketing customers.
Mashrabov said: “When I worked at Snapchat, the facial filters I developed were mainly used by teenagers for entertainment. At Higgsfield, we are changing how large enterprises run marketing campaigns.”
Goldman Sachs estimates that the global creator economy currently involves around 50 million people and could grow from $250 billion (approximately RMB 1.69 trillion at current exchange rates) in 2023 to $480 billion (approximately RMB 3.24 trillion at current exchange rates) by 2027, driven primarily by growth in influencer marketing and short-form video advertising. According to data from The Business Research Company, global digital advertising spending is expected to reach $1.1 trillion (approximately RMB 7.42 trillion at current exchange rates) by 2030, representing an average annual growth rate of 8.6%.
Mashrabov said that since May this year, brands including Dollar Shave Club have begun building AI-powered marketing systems and using Higgsfield to create multiple videos every day, rather than producing only one video asset for an entire marketing campaign as they did previously.
Mashrabov said: “Dollar Shave Club's chief marketing officer has spoken publicly about using Higgsfield. Hundreds of similar direct-to-consumer brands across the United States are now using AI. They are not merely producing one video; they are creating multiple videos every day.”
He said social media teams are using AI to keep pace with the rapid turnover of online content while reducing their reliance on expensive creative agencies. He added that the technology can both lower marketing costs and help brands continuously produce new videos at scale, enabling them to sell more products.
The funding will help Higgsfield continue investing in enterprise-grade products, security and computing infrastructure.
Mashrabov said: “Computing capacity is currently extremely scarce. This funding will allow us to secure substantial computing resources in advance so that we can provide industry-leading services.”
Higgsfield previously also ventured into AI-generated filmmaking, but the technology could affect creative jobs in the film and television industry, prompting concern among some in Hollywood. The company is now increasingly targeting enterprise customers and helping them use Higgsfield's tools to create marketing content.
Other investors participating in the round included Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Liberty Global Tech Ventures, Mirae Asset Capital and NTT DOCOMO Ventures. Goldman Sachs invested through its Equity Growth fund.