Figma, a US-based interface design tool provider backed by media group O’Reilly, secured $200m in series E funding yesterday at a $10bn valuation, according to Bloomberg.
Private equity firm Durable Capital Partners and investment bank Morgan Stanley’s Counterpoint Global unit co-led the round, which included Index Ventures, Greylock, Kleiner Perkins, Sequoia Capital and Andreessen Horowitz.
Founded in 2012, Figma provides an online platform that helps user interface engineers create projects together with their clients remotely and in real time. Airbnb, Alphabet, Google, Herman Miller and Kimberly-Clark are among its customers.
The company will use the cash to expand its product offering, conduct strategic acquisitions and increase headcount in a recruitment drive through which it aims to hire 500 people by the end of this year.
Figma had raised $50m in a series D round in May 2020 led by Andreessen Horowitz and backed by Index Ventures, Greylock, Kleiner Perkins, Sequoia, Founders Fund, Durable Capital and multiple private investors, reportedly valuing it at $2bn.
Sequoia had led the company’s $40m series C round in early 2019, investing alongside Coatue Management, Founders Fund, Index Ventures, Greylock and Kleiner Perkins, then called Kleiner Perkins Caufield & Byers (KPCB), and several individuals.
KPCB led a $25m series B round for Figma the year before, when it was joined by Index and Greylock. It had closed a $14m series A round in 2015 led by Greylock that also featured O’Reilly investment vehicle O’Reilly Alphatech Ventures (OATV), Iconiq Capital, Index Ventures and various angel investors.
Index Ventures had already taken part in Figma’s $4m seed round in 2013, together with a number of individuals.
