Investor Retrospective · Index Ventures
Why the firm invested
Index Ventures participated in the Series C round to help Figma commercialize its collaborative software product at scale.
These are very exciting days for Figma, which is only just getting started, so this new round will allow the team to continue to professionally commercialize the product.
Product
Figma addresses collaborative design workflow gaps through comprehensive synchronization, centralized team feedback, and powerful editing tools.
Figma solves all these issues, and is winning over designers with powerful and thoughtful features including comprehensive synchronization, centralized team feedback and powerful editing tools.
Traction
Figma achieved over 1 million sign-ups, with Uber using it for 90% of design work and Square transitioning a team of 100+ designers.
Figma’s performance stats back this up, with more than 1 million signs ups and high-profile customers including Uber, which uses Figma for 90% of its design work, and Square, which is transitioning over its team of more than 100 designers.
Team
Figma's clear vision and execution strategy allowed the company to assemble one of Silicon Valley's strongest design and engineering teams.
Executing their plan with such a deep level of vision and confidence has allowed them to attract some of the industry’s best talent, and they now have one of the most solid teams in the Valley.
Investment context
Figma raised a $40 million Series C funding round at a valuation of $440 million, led by Sequoia Capital with Index Ventures participating.
We’re thrilled to participate in this Series C funding round of $40m on a valuation of $440m, led by Sequoia Capital.
What founders can learn
- What actually moved the decision: Index Ventures wrote that Index Ventures participated in the Series C round to help Figma commercialize its collaborative software product at scale.
- The traction evidence that carried weight: Index Ventures wrote that Figma achieved over 1 million sign-ups, with Uber using it for 90% of design work and Square transitioning a team of 100+ designers.
- How the team was judged: Index Ventures wrote that Figma's clear vision and execution strategy allowed the company to assemble one of Silicon Valley's strongest design and engineering teams.
Source and provenance
Investor Retrospective published by Index Ventures on indexventures.com. Read the original
