{"id":18428,"date":"2020-05-02T00:31:51","date_gmt":"2020-05-02T00:31:51","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/figma-raises-50-million-series-d-led-by-andreessen-horowitz.html"},"modified":"2020-05-02T00:31:51","modified_gmt":"2020-05-02T00:31:51","slug":"figma-raises-50-million-series-d-led-by-andreessen-horowitz","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/figma-raises-50-million-series-d-led-by-andreessen-horowitz.html","title":{"rendered":"Figma raises $50 million Series D led by Andreessen Horowitz"},"content":{"rendered":"

Figma, <\/a> the design platform that lets folks work collaboratively and in the cloud, has today announced<\/a> the close of a $50 million Series D financing. The round was led by Andreessen Horowitz, with partner Peter Levine and cofounding partner Marc Andreessen managing the deal for the firm. New angel investors, including Henry Ellenbogen from Durable Capital, also participated in the round alongside existing investors Index, Greylock, KPCB, Sequoia and Founders Fund.<\/p>\n

Forbes reports<\/a> that the latest funding round values Figma at $2 billion.<\/p>\n

Dylan Field, Figma founder and CEO, told TechCrunch that discussions between a16z and Figma actually began towards the end of the fundraising cycle for the company\u2019s Series C, which closed in February of 2019.<\/p>\n

\u201cIt felt a bit like a shotgun wedding,\u201d said Field, explaining that both parties instead opted to get to know each other better. They\u2019ve been building their relationship over the past year, leading to today\u2019s Series D close. Field also added that he has not met other investors in this round in person, and the vast majority of the deal was done over Zoom.<\/p>\n

\u201cWhen you think about the future of Silicon Valley, there is an interesting question around capital infrastructure being here and people not being able to access that if they\u2019re not here, too,\u201d said Field. \u201cI got to see firsthand how a deal done online can work and I think more and more investors aren\u2019t going to worry about whether you\u2019re in Silicon Valley or not.\u201d<\/p>\n

Figma launched in 2015<\/a> after nearly six years of development in stealth. The premise was to create a collaborative, cloud-based design tool that would be the Google Docs of design.<\/p>\n

Since, Figma has built out the platform to expand access and usability for individual designers, small firms and giant enterprise companies alike. For example, the company launched plug-ins in 2019<\/a>, allowing developers to build in their own tools to the app, such as a plug-in for designers to automatically rename and organize their layers as they work (Rename.it) and one that gives users the ability to add placeholder text that they can automatically find and replace later (Content Buddy).<\/p>\n

The company also launched an educational platform called Community, which gives designers the ability to share their work and let other users \u2018remix\u2019 that design, or simply check out how it was built, layer by layer.<\/p>\n

A spokesperson told TechCrunch that this deal was \u201copportunistic,\u201d and that the company was in a strong cash position pre-financing. The new funding expands Figma\u2019s runway during these uncertain times, with coronavirus halting a lot of enterprise purchasing and ultimately slowing growth of some rising enterprise players.<\/p>\n

Field explained that Figma\u2019s data is counter to the expected narrative around enterprise purchasing because Figma is specifically built to let teams collaborate in the cloud.<\/p>\n

\u201cWe\u2019re actually seeing a lot of acceleration for bigger deals on the sales side,\u201d said Field. \u201cFigma is a tool that can help right now.\u201d<\/p>\n

The company says that one interesting change they\u2019ve seen in the COVID era is a significant jump in user engagement from teams to collaborate more in Figma. The firm has also seen an uptick in whiteboarding, note taking, slide deck creation and diagramming, as companies start using Figma as a collaborative tool across an entire organization rather than just within a team of designers.<\/p>\n

This latest deal brings Figma\u2019s total funding to $132.9 million. Field added that, though the company is not yet profitable, this latest financing gives the company three to four years of runway, even with aggressive scaling and hiring efforts moving forward.<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/6yCPQGG3SyQ\/<\/p>","protected":false},"excerpt":{"rendered":"

Figma, the design platform that lets folks work collaboratively and in the cloud, has today announced the close of a $50 million Series D financing. The round was led by <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-18428","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t