Higgsfield said on 23 October that TCV and Nvidia had invested in an extension of its August Series B, and that its annualised revenue had crossed $1 billion in September. The San Francisco-based company offers AI video and image creation tools to brands, agencies, studios and creators. Its announcement coincided with Nvidia founder and chief executive Jensen Huang’s visit to Astana for Kazakhstan’s national AI Month, Higgsfield said.
Key points
- TCV and Nvidia have joined an extension of Higgsfield’s Series B, which was led by DST Global in August.
- The August financing raised US$400 million at a US$5.4 billion valuation.
- Higgsfield says it crossed $1 billion in annualised revenue in September and has more than 40 million users.
- The company plans to spend the new funding on global infrastructure and hiring.
August’s US$5.4 billion valuation
Higgsfield’s August Series B raised US$400 million at a US$5.4 billion valuation, Bloomberg reported. DST Global led that financing. Higgsfield named Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures and Valor Capital among its participants.
Bloomberg reported that Higgsfield did not disclose the extension’s size or its valuation. The August price therefore belongs to the earlier financing. Higgsfield plans to use the additional capital for global infrastructure and hiring.
Higgsfield’s US rival Runway AI raised US$315 million at a US$5.3 billion valuation in February, with Nvidia also participating. China’s Kling AI, owned by Kuaishou Technology, raised US$2.8 billion at about a US$15 billion valuation during the summer.
TCV has previously backed Netflix, Spotify, Facebook, ByteDance and Electronic Arts, according to Higgsfield’s announcement. Nvidia already works with Higgsfield on hardware and software, the company said. TCV founding general partner Jay Hoag described the investment alongside the firm’s earlier media and entertainment holdings.
Higgsfield’s $1 billion revenue claim
Higgsfield said its annualised revenue crossed $1 billion in September. Alex Mashrabov, its co-founder and chief executive, said in September that the platform was on track to surpass US$1 billion in annualised revenue based on its performance at the time, Bloomberg reported. The company’s figure describes revenue at an annualised rate, rather than sales over a completed year.
Higgsfield said its enterprise business was growing by more than 100% month on month. It also said revenue under contract from business customers had grown tenfold since June. The contract figure covers business customers, while the annualised revenue claim covers the platform as a whole.
The company said it had more than 40 million users across 238 countries and territories. It identified the United States as its largest national market and Europe as its largest region by usage. Higgsfield said brands and agencies use its tools to produce up to 100 advertising variants from one campaign concept for different markets and platforms.
Huang’s visit to Astana
Huang’s trip was his first to Kazakhstan, according to Higgsfield. The company is headquartered in San Francisco, while most of its engineering staff work in Kazakhstan. Higgsfield said it maintains ties there through Astana Hub.
Higgsfield was founded in 2023. Its co-founders include Mashrabov, a former Snap executive, and Kazakhstani AI engineer Yerzat Dulat. Higgsfield’s announcement also names Mahi De Silva as a co-founder.
The platform gives creators access to about 35 AI video models from other providers alongside its own engine. Users can choose models for separate stages of a production, including storyboarding, character creation and audio. Higgsfield said its platform processes 12 trillion tokens across 150 million generations each month.
