Higgsfield raised $400mn at $5.4bn, four times its January valuation
Higgsfield has raised $400mn at a $5.4bn valuation. DST Global led the round. Goldman Sachs, Intel Capital, and Liberty Global Tech Ventures all took part, alongside Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Mirae Asset Capital, and NTT DOCOMO Ventures.
The company was valued at $1.3bn in January. That is roughly four times higher in eight months.
We reported in July that Higgsfield was in talks at $5bn. It closed above that.
The number that matters is not the valuation
Higgsfield says its annualised revenue reached $700mn this month. A year earlier the figure was about $20mn.
Read that carefully, because it is a run rate rather than booked annual revenue. It takes current performance and extrapolates forward. A company growing this fast will flatter itself by that measure, and a company that stalls will look worse than its accounts.
Even so, the direction is not in doubt....
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