Aug 17 (Reuters) - AI startup Higgsfield saw its valuation quadruple in about six months to $5.4 billion after raising $400 million in its latest funding round, as demand for AI-generated marketing and media content grows.
DST Capital led the Series B funding, with participation from Growth Equity at Goldman Sachs Alternatives, Tribe Capital and Intel Capital among others. Accel, Menlo Ventures and GFT Ventures were among existing investors that also participated in the round.
Here are some details:
• The AI-native platform, serving creators, marketers and studios, said its annualized revenue reached $700 million this month.
• The company, known for proprietary tools like Soul 2.0 for image generation and Keyframes for storyboards, plans to use the funding for global sales and management operations, alongside investments in infrastructure, research and hiring.
• Higgsfield's enterprise customer base spans advertising and marketing, entertainment and broadcasting among others, with global users doubling since January to over 30 million.
• The company was valued at more than $1.3 billion in January after raising more than $130 million across its Series A financing rounds.
(Reporting by Prathik Jayaprakash in Bengaluru; Editing by Vijay Kishore)
