Higgsfield Raises $400M at $5.4B, 4× Its Series A

Higgsfield has raised $400 million in Series B financing at a $5.4 billion valuation, the AI video and image platform announced on August 17. That is roughly four times the $1.3 billion it carried at its Series A about eight months ago, and it lands with a revenue figure unusual for a company this young: annualized revenue reached $700 million this month, up from about $20 million a year earlier.

DST Global led the round. It was joined by Tribe Capital, Growth Equity at Goldman Sachs Alternatives, Smash Capital, Fifth Wall, Valor Capital, Intel Capital, Liberty Global Tech Ventures, Mirae Asset Capital and NTT DOCOMO Ventures, alongside returning backers Accel, Menlo Ventures, AI Capital Partners, GFT Ventures, Capra Ventures, BAM Corner Point and BroadLight Capital. Investor Natalia Vodianova Arnault came in as both shareholder and advisor. The mix of compute, connectivity, distribution and media strategics on the cap table says something about where the company thinks its costs and its customers will come from.

The usage numbers are what the valuation is priced against. Higgsfield reports more than 30 million users across 238 countries and territories, more than 20 million content generations a month, and 390 of the Fortune 500 among its customers. The company also points to a compute expansion in May 2026 as the inflection point, saying users of its agentic products grew 42-fold in the three months that followed — a reminder that in generative video, supply of GPU time and product growth are close to the same variable.

Founder and chief executive Alex Mashrabov, formerly of Snap, framed the opportunity around cost rather than novelty: "Every business needs visual content, but creating it at the quality, speed and scale companies demand remains complex and expensive." The pitch is aimed less at hobbyists making clips than at brands, agencies and studios replacing production line items — which is also why the enterprise logo count matters more to this round than the raw user total.

The money is earmarked for research and development, global infrastructure, AI talent hiring and expansion into new markets. Higgsfield sits in a category that investors had cooled on a year ago, when generative video looked like an expensive demo without a business attached. A $700 million run rate against a $5.4 billion price implies a multiple that assumes the curve holds — and generative video revenue has so far proved easier to start than to defend, with model quality across vendors converging quickly and switching costs for a marketing team close to zero.