- Software design company, Figma Inc, has raised $200 million at a valuation of $10 billion, Bloomberg reports.
- Figma, which allows customers to collaborate on software as they build it, noted a demand jump from the pandemic-induced remote work.
- The company’s investors included Durable Capital Partners and Morgan Stanley through its Counterpoint Global group.
- Dylan Field founded Figma spent several years in stealth before introducing browser-based software design tools. The tools helped software designers to work together in real-time, bypassing the process of saving and sending their work to collaborators using a collection of disparate apps.
- Figma’s customer base expanded in recent years from Airbnb Inc (NASDAQ:ABNB), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Herman Miller Inc (NASDAQ:MLHR), Kimberly-Clark Corp (NYSE:KMB) to also lightweight game, map and presentation builders, Sequoia Capital partner Andrew Reed noted.
- Figma still faces stiff competition from Adobe Inc (NASDAQ:ADBE), InVisionApp Inc., and Balsamiq Studios.
- The funding proceeds will help Figma to expand past its current two products and focus on its users. It was looking to acquire both strategic assets and talent.
- The company will employ around 500 people by 2021 end.
- An investment founder and analyst highlighted the company’s new product, FigJam, reflecting its broader prospects. FigJam functions as an online whiteboard allowing teams to chat and share emojis while brainstorming.
- Related Link: Microsoft Corp (NASDAQ:MSFT) recently announced Whiteboard app updates to encourage corporate brainstorming.
$1000 Invested In D.R. Horton 20 Years Ago Would Be Worth This Much Today
D.R. Horton (NYSE:DHI) has outperformed the market over the past 20 years by 2.16% on an annualized basis producing an average annual return of 9.52%. Currently, D.R. Horton has a market capitalization of $25.39 billion.
