San Francisco-based AI video platform Higgsfield announced a Series B financing extension on Friday with new investments from Silicon Valley venture firm TCV and chipmaker NVIDIA.
The extension adds to the round l DST Global led in August, with Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures and Valor Capital also participating, the company said in a statement.
The funding will go towards product development, global infrastructure, hiring and go-to-market expansion, it added.
According to the statement, Higgsfield crossed $1 billion in annualized revenue in September, 18 months after launch. Enterprise is its fastest-growing segment, with revenue under contract from business customers up tenfold since June.
The company said its platform has more than 40 million users across 238 countries and territories, and processes 12 trillion tokens across 150 million generations each month.
"Every brand, studio and creator now needs more visual content than traditional production can supply, and a new category is forming to meet that demand," Higgsfield CEO Alex Mashrabov said. "TCV has backed iconic companies that have transformed media, and NVIDIA has powered every generation of our platform. With leaders from compute to media development we're well positioned to lead this new frontier."
TCV, which has invested in Netflix, Spotify, Facebook, ByteDance and Electronic Arts, said it backed Higgsfield because of its approach to AI-generated visual content. On its part, Nvidia has worked with Higgsfield across hardware and software, including its GPU infrastructure and inference systems.
Higgsfield was co-founded by Alex Mashrabov, Yerzat Dulat and Mahi de Silva. The company maintains ties to Kazakhstan through Astana Hub, where Nvidia CEO Jensen Huang is visiting for the country's national AI Month.