Cloud-based design platform Figma has raised $700 million in an investment round co-led by Coatue Management, Alkeon Capital Management and General Catalyst Partners. This round of investment increased the company's valuation to $12.5 billion.
 

Cloud-based design platform Figma

Figma's $700 million investment round was led by Coatue Management, Alkeon Capital Management and General Catalyst Partners. Also participating were SurgoCap Partners, Atlassian Corp., Fidelity Management, Franklin Venture Partners, Iconiq, Sequoia Capital, Thrive Capital, Greenoaks Capital Partners, Durable Capital Partners, Andreessen Horowitz, Kleiner Perkins, Apple's Eddy Cue, Goanna Capital and XN.
Founded in 2012 by Dylan Field and Evan Wallace, Figma offers a set of tools that make it easy to design user interfaces for websites and mobile applications. Figma is positioned as a fully cloud-based design tool, allowing users to access their projects through their web browser without the need to download any software. This makes it possible for team members to access and work on projects from different locations. Logo Ventures Managing Partner Merve Zabcı stated that they have closely followed Figma's progress over the years and are excited to support the team. Zabcı emphasized that Figma has a deep understanding of the needs of SMEs and continues to create value for its customers. Figma plans to use this new investment to expand its team and deepen its local expertise in key markets. The company currently employs around 50 people and aims to increase this number to 65 by the end of the year. It was also announced that the company has received an EU Electronic Money Institution (EMI) license from FIN-FSA (Finnish Financial Supervisory Authority) to accelerate its growth across Europe.