Figma, a US-based design software developer backed by media company O’Reilly, secured $50m yesterday in a series D round led by venture capital firm Andreessen Horowitz.
Index Ventures, Greylock, Kleiner Perkins, Sequoia Capital, Founders Fund, Durable Capital and assorted angel investors also contributed to the round. It valued Figma at $2bn, co-founder and CEO Dylan Field told Forbes.
Founded in 2012, Figma has built a cloud-based tool that enables interface designers to collaborate on and prototype projects.
The company ultimately aims to create an end-to-end software platform that will enable all stakeholders, including salespeople and marketers, to easily provide feedback and work on products.
The series D funding was raised to help alleviate the concerns of potential recruits who had been questioning the company’s previous valuation of $440m, Field said. It will allow Figma to grow its go-to-market sales team, purchase complimentary businesses and pursue acquihire deals.
Sequoia led a $40m series C round for Figma in February 2019 that attracted Coatue Management, Founders Fund, Index Ventures, Greylock and Kleiner Perkins – then known as Kleiner Perkins Caufield & Byers (KPCB) – and assorted private investors.
KPCB had led Figma’s $25m series B round in February 2018, investing with Index Ventures and Greylock. It had received $14m in a 2015 series A round led by Greylock and backed by O-Reilly subsidiary O’Reilly Alphatech Ventures, Iconiq Capital, Index Ventures and several individuals.
Index Ventures had already contributed to a $4m seed round for the company in 2013, together with a range of angel investors.
