Figma now valued at $10 billion
Widely loved American software design platform, Figma, is now worth $10 billion.
Figma Inc is an American software design company that was founded in 2021 by Dylan Field. The company raised an impressive $200 million during its recently completed funding round that involved Morgan Stanley’s Counterpoint Global group and Durable Capital Partners.
This development caused the company’s net value to increase to $10 billion.
Figma claimed that the demand for its product which allows people to build software through teamwork skyrocketed during the COVID-19 pandemic global lockdown in 2020 due to an increase in the number of people working from home.
The CEO of Figma, Dylan Field stated that the funds derived from the funding round will go into the expansion of its two existing products and the improvement of user experience. The company will also be channeling the funds towards the acquisition of assets and enlargement of its workforce, stating its goal of employing over 500 people by the end of 2021.
