What is known about Higgsfield’s $400 million Series B funding round—including its $5.4 billion valuation, the more-than-fourfold increase from its January valuation of over $1.3 billion, lead and participating investors, the company’s 2023 founding by former Snap executive Alex

Higgsfield has raised a $400 million Series B at a $5.4 billion valuation, a more-than-fourfold increase from the more than $1.3 billion valuation attached to its January financing. The deal is a striking example of investor enthusiasm for AI tools aimed at commercially useful marketing content rather than consumer video experimentation.

• Investors: DST Global led the round. Reported participants include Tribe Capital, Goldman Sachs Alternatives’ Growth Equity business, Smash Capital, Fifth Wall, Liberty Global, and Intel/Intel Capital.

• Company and product: Founded in 2023 by former Snap executive Alex Mashrabov and publicly launched in 2025, Higgsfield provides AI image and video-generation tools, with a focus on producing marketing videos from text prompts for creators, brands, agencies, and studios.

• Revenue and enterprise shift: The company says its annualized revenue rose from about $20 million to $700 million, as enterprise customers grew to represent the majority of sales. That is annualized run-rate revenue, not necessarily recognized GAAP revenue.

• Customer use case: Mashrabov said brands including Dollar Shave Club use Higgsfield to produce several videos a day rather than creating a single asset for a campaign, reducing dependence on outside creative agencies.

• Contrast with Sora: Reports characterize Higgsfield’s marketing-oriented monetization as a contrast to OpenAI’s decision to shut down its Sora video app after it generated only about $2.1 million in lifetime revenue while incurring substantial compute costs. This comparison should be treated cautiously: the Sora revenue and cost figures are reported estimates, not audited disclosures.

• Use of proceeds: Higgsfield plans to fund international sales expansion, infrastructure and research, recruiting, and advance reservations of scarce computing capacity—an important input for high-volume video generation.

• Scale: The company says it has more than 30 million users in 238 countries. As with its revenue run-rate figure, this is a company-reported metric.

The core investment thesis appears to be that Higgsfield has found a high-frequency, revenue-producing workflow—rapid marketing-creative production—where customers can measure cost and speed advantages, unlike broader consumer AI-video products that may face harder monetization and compute-economics challenges.