What is Figma?
Collaborative, browser-based design platform for product teams.
- Category
- Design tools
- Headquarters
- San Francisco, CA
- Founded
- 2012
- Employees
- ~1,500
- Total funding
- ~$749M
- Status
- Public (2025 IPO)
What is Figma?
Figma is a collaborative, browser-based design platform where product teams design, prototype, and ship user interfaces together in real time. Its defining feature is multiplayer editing — multiple people working in the same file at once, Google-Docs-style — which turned design from a solo activity into a shared, team one.
Since launching publicly in 2016, Figma has expanded well beyond UI design into online whiteboarding with FigJam, developer handoff with Dev Mode, and presentations with Figma Slides — becoming an end-to-end surface for the whole product-development process rather than just a drawing tool. That breadth has driven rapid growth: revenue climbed from about $504 million in 2023 to $749 million in 2024 and crossed $1 billion (roughly $1.06 billion) in 2025, the year Figma went public after its planned Adobe acquisition fell through. Its customer base skews enterprise — by the end of 2025 it counted nearly 14,000 customers paying over $10,000 a year and more than 1,400 paying over $100,000, with net dollar retention of around 136%.
Sources:figma.com
What does Figma offer?
Figma has grown from a single design tool into a set of products spanning ideation, design, developer handoff, and presentation.
- Design· Design
- Prototyping· Design
- FigJam· Whiteboard
- Dev Mode· Handoff
- Figma Slides· Present
Sources:figma.com
How does Figma make money?
Figma uses a freemium, per-editor model. Viewing and commenting on files is free, which spreads Figma across an organization, while teams pay for Professional, Organization, and Enterprise plans priced per editor seat. Newer products like Dev Mode and FigJam expand what each paid seat can do.
Because anyone can be invited to view or comment for free, Figma spreads virally inside companies — designers, engineers, PMs, and executives all end up in the same files — and then monetizes the smaller set of people who actively edit. In 2025 Figma moved to a more granular seat model: a full design seat (raised to $20 per month from $16), a cheaper Dev Mode seat (around $12) for engineers, and a collaboration seat, with FigJam and Figma Slides included across paid plans.
Higher Organization and Enterprise tiers add admin controls, security, audit logs, and tenant-wide AI settings. That expanding menu of seat types and products is a big reason its net dollar retention sits around 136% — existing customers keep spending more each year.
Sources:figma.com
Who leads Figma?
Figma was co-founded in 2012 by Dylan Field, who serves as CEO, and Evan Wallace, who built the original browser-based rendering technology that made high-performance design on the web possible.
- Dylan FieldCo-founder & CEOSince 2012A Thiel Fellow who left college to start Figma; leads product direction and steered the company through its attempted Adobe acquisition and return to independence.
- Evan WallaceCo-founderSince 2012Built Figma's early WebGL rendering engine — the technical breakthrough behind real-time design in the browser.
How do you contact Figma's leadership?
Figma's leadership use the figma.com domain. CEO Dylan Field's public address is dylan@figma.com; other leaders follow a first-initial-plus-last-name format.
jdoe@figma.comSources:ContactOutRocketReach
How much funding has Figma raised?
Figma raised about $749 million across roughly seven venture rounds before agreeing, in 2022, to be acquired by Adobe for about $20 billion — one of the largest-ever acquisitions of a private software company. That deal was abandoned in December 2023 amid regulatory pressure in Europe and the UK, leaving Figma independent and paid a $1 billion break-up fee.
Its venture history climbed steadily, round by round. Figma raised a $4M seed in 2013 (Index Ventures and angels) at a $16M valuation, a $14M Series A in 2015 led by Greylock at about $77M, and a $25M Series B in 2018 led by Kleiner Perkins. A $40M Series C in 2019, led by Sequoia with Coatue and Founders Fund, lifted the valuation to $440M; a $50M Series D in 2020 led by Andreessen Horowitz made Figma a $2B unicorn; and a $250M Series E in 2021 valued it at $10B.
After the Adobe deal collapsed, Figma raised a further ~$416M in 2024. Its backers include Index Ventures, Greylock, Kleiner Perkins, Sequoia Capital, and Andreessen Horowitz — and the scrapped acquisition only underscored how strategically valuable Figma's position in design had become.
How did Figma get here?
Figma spent years in development before its public launch, then rode real-time collaboration to become the team standard — and survived a high-profile acquisition that ultimately fell through.
- 2012FoundedDylan Field and Evan Wallace start Figma with the goal of bringing professional design into the browser.
- 2016Public launchAfter a long beta, Figma launches publicly with real-time multiplayer design as its headline feature.
- 2021FigJamFigma adds FigJam, an online whiteboard, extending beyond UI design into ideation.
- 2022Adobe deal announcedAdobe agrees to acquire Figma for about $20 billion.
- 2023Deal terminatedThe Adobe acquisition is called off under regulatory pressure; Figma stays independent and receives a $1B break-up fee.
- 2024Dev Mode & SlidesFigma deepens developer handoff with Dev Mode and launches Figma Slides for presentations.
- 2025IPOAfter the Adobe deal collapses, Figma goes public, crossing $1 billion in annual revenue.
Sources:figma.com
Who are Figma's competitors?
Figma competes across UI design, whiteboarding, and increasingly general visual creation, against both legacy design tools and fast-growing newcomers.
- SketchThe macOS-native design tool Figma largely displaced as the team standard.
- AdobeCreative Cloud and XD; a rival and the company whose acquisition of Figma fell through.
- CanvaMass-market visual design moving upmarket toward product and team use.
- FramerDesign-to-website builder popular with designers shipping live sites.
- PenpotOpen-source, self-hostable design alternative.
Sources:G2 comparisons
Figma — frequently asked questions
