PixVerse tops a $2 billion valuation after extending its Series C to $439 million

PixVerse has extended its Series C funding round to $439 million, pushing the Singapore-based AI video startup's valuation past $2 billion, according to reports from Bloomberg and KrASIA. The company said the extension brought in new investors including Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, and CloudAlpha, alongside returning investor iGlobe Partners. The original tranche of about $300 million closed in March led by CDH Investments with backing from Alibaba, valuing the company at roughly $1 billion at the time. PixVerse said it now has more than 100 million registered users across 175 countries and over 16 million monthly active users. The company said annual recurring revenue sits above $40 million and is growing more than tenfold year over year, according to Bloomberg. In January, PixVerse leadership told CNBC the company had launched a real-time AI video generation tool. By April, Bloomberg reported PixVerse was discussing a possible Hong Kong IPO with China International Capital Corp and JPMorgan. The valuation implies a roughly 50 times revenue multiple, higher than rivals such as Runway and Luma AI.