Companies · AI / ML

Figma, Inc.

SAN FRANCISCO · AI / ML · refined from filed group “Other · https://www.figma.com/

Diligence memoA one-page analyst read on Figma, Inc. — recommendation, valuation, rhythm, risks.
$715.5M
Total raised · real
7
Rounds
2.2×
Latest step-up
Top 2%
Sector rank · raised
Growth/Late
Latest stage · inferred · Wed May 15 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Figma, Inc. looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the ai/ml sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.00× the median modeled value of Growth/Late AI / ML companies in 2022–2024 (5 peers) — value vs value, same stage and era.
  • Within the normal band (100% of peer median) for its niche.
At-risk
  • Last raise 2.1 yr ago; this sector typically re-raises about every 11 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in AI / ML

Figma, Inc. is one of 2067 AI / ML companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Figma is the leading collaborative design platform for building meaningful products. Design, prototype, and build products faster—while gathering feedback all in one place.

Figma is the leading collaborative design platform for building meaningful products. Design, prototype, and build products faster—while gathering feedback all in one place. AI workflows for imagery, video, audio, and more Explore Figma Make and Figma Sites projects made by our users Stories about how products take shape—and shape our world Made so your whole team can go from WIP to ship, together. Turn your ideas into apps, websites, and products. Dev tools that take you all the way to production. Teammates and AI agents work in the same space with shared context. Generate new design directions, refine, and align—together. Every technical tool you need to dial in the details. Your context, codebase, and agents stay connected so what you design is what gets shipped. Everyone is able to influence, inspire, and give input without ever leaving the design file. That creates a really transparent, open, and honest process throughout the whole project.

ai/ml
Find Figma, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
53
Investors (latest)
2024-05-15
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeed · 2013-06-07 Raised $3.9M (real) Modeled valuation $172M (est)Seed2013Series A · 2014-12-19 Raised $14M (real) Modeled valuation $506M (est)Series A2014Series B · 2019-02-08 Raised $40M (real) Modeled valuation $1.6B (est)Series B2019Series C · 2020-04-29 Raised $50M (real) Modeled valuation $2.0B (est)Series C2020Series C · 2021-02-10 Raised $2.3M (real) Modeled valuation $74M (est)Series C2021Series D+ · 2021-06-23 Raised $190M (real) Modeled valuation $5.8B (est)Series D+2021Growth/Late · 2024-05-15 Raised $416M (real) Modeled valuation $6.4B (est)Growth/Late2024+$14M+$40M+$50M+$2.3M+$190M+$416MCumulative $715M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.9M · 2013
Series A$14.0M · 2014
Series B$40.0M · 2019
Series C$50.0M · 2020
Series C extension$2.3M · 2021
Series D+$189.6M · 2021
Growth/Late$415.7M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 86%.

Modeled valuation trajectory
$6.4B
Base estimate est.
$3.2B
Conservative case
$8.3B
Upside case
$4.2B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the ai/ml sector profile. Directional, not a quoted figure.

Seed · modeled $172.0M · 2013-06-072013Series A · modeled $505.9M · 2014-12-19Series B · modeled $1.6B · 2019-02-08Series C · modeled $2.0B · 2020-04-29Series C · modeled $74.4M · 2021-02-10Series D+ · modeled $5.8B · 2021-06-23Growth/Late · modeled $6.4B · 2024-05-152024
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
88%
Survival probability
76% low · 95% high
1.30×/yr
Annual markup
1.42×/yr upside case
2.1 yr
Elapsed time used
2.1 yr actual, capped for stale marks
ai/ml
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
22 mo
Avg between rounds
$65.4M/yr
Capital velocity
13.1 yr
On record since
2013
First round
7
Rounds on file
How it compares to the market

Benchmarked against 2067 companies in AI / ML. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 151× above median
This company$715.5M
Sector median$4.7M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.7× of median
This company$415.7M
Sector median$575.3M
Modeled value — vs sector median (estimate, all stages) 230× above median
This company$6.4B
Sector median$27.9M

Raised more than 99% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #3 of 5.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100K$1.0M$10.0M$100.0M$1.0B$10.0BCapital raised (log)CoreWeave, Inc. · Growth/Late Raised $1.2B · modeled $17.7B (est)SMG Aggregator, LLC · Growth/Late Raised $601.7M · modeled $10.9B (est)Clinigence Holdings, Inc. · Growth/Late Raised $2.5B · modeled $56.0M (est)Envisionit Deep AI · Growth/Late Raised $1.6M · modeled $34.9M (est)Figma, Inc. (this company) Raised $715.5M · modeled $6.4B (est)Figma, Inc.
CompanyStageRaised · realValue · estvs peer med.
CoreWeave, Inc.Growth/Late$1.2B$17.7B2.76×
SMG Aggregator, LLCGrowth/Late$601.7M$10.9B1.70×
Figma, Inc. this companyGrowth/Late$715.5M$6.4B1.00×
Clinigence Holdings, Inc.Growth/Late$2.5B$56.0M0.01×
Envisionit Deep AIGrowth/Late$1.6M$34.9M0.01×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.9M2013-06-07$19.4M$172.0M85%
Series A$14.0M2014-12-19$63.6M$505.9M85%
Series B$40.0M2019-02-08$222.2M$1.6B90%
Series C$50.0M2020-04-29$333.3M$2.0B90%
Series C$2.3M2021-02-10$15.0M$74.4M90%
Series D+$189.6M2021-06-23$1.6B$5.8B90%
Growth/Late$415.7M2024-05-15$4.2B$6.4B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.9M2013-06-07
    • First recorded raise — entered as Seed.
    • 8 investors on this round.
  2. Series A$14.0M2014-12-19
    • Raised again after 18 mo — slower than the ~11 mo sector norm.
    • Round 3.6× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 19 investors on this round.
  3. Series B$40.0M2019-02-08
    • Raised again after 50 mo — slower than the ~11 mo sector norm.
    • Round 2.9× larger than the prior — scaling up.
    • 9 investors on this round.
  4. Series C$50.0M2020-04-29
    • Raised 15 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 41 investors on this round.
  5. Series C$2.3M2021-02-10
    • Raised 9 mo later, in step with the ~11 mo sector norm.
    • Round 22.2× smaller than the prior — bridge or down round.
    • 11 investors on this round.
  6. Series D+$189.6M2021-06-23
    • Came back fast: 4 mo vs the ~11 mo sector norm.
    • Round 84.3× larger than the prior — scaling up.
    • 37 investors on this round.
  7. Growth/Late$415.7M2024-05-15
    • Raised again after 35 mo — slower than the ~11 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 53 investors on this round.
Intelligence
2026 ~Q1
Modeled next raise · ~22mo cadence
$911.7M
Modeled next size est.range $592.6M$1.5B
2.2×
Last step-up
$65.4M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Danny Rimer15 other2019-02
Mamoon Hamid14 other2019-02
Daniel Rimer6 other2014-12
John Lilly4 other2014-12
Andrew Reed3 other2024-05
Brendan Mulligan1 other2024-05
Kelly Kramer1 other2024-05
Lynn Vojvodich1 other2020-04
Dylan Field2013-06
Evan Wallace2013-06
Kris Rasmussen2024-05
Nadia Singer2024-05
Praveer Melwani2024-05
Shaunt Voskanian2024-05
Sheila Vashee2024-05
Yuhki Yamashita2024-05
Registry & provenance

Figma, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1579878
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
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Integris AI Healthcare Group, Inc.AI / MLGrowth/Late$1.0B$9.5Bsame sector · same stage
Lightning AI, Inc.AI / MLGrowth/Late$435.5M$4.4Bsame sector · same stage
Box IncOther TechnologyGrowth/Late$912.9M$13.5Bnetwork1 shared operator · same stage
Discord Inc.Other TechnologyGrowth/Late$913.9M$294.5Mnetwork1 shared operator · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
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SnapMagic
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AI / ML76%
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Cotera, Inc.
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Frequently asked
How much funding has Figma, Inc. raised?
Figma, Inc. has raised approximately $715.5M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Figma, Inc.'s estimated valuation?
Provath's modeled valuation for Figma, Inc. is approximately $6.4B (modeled range $3.2B–$8.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Figma, Inc. at?
Figma, Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Wed May 15.
What does Figma, Inc. do and where is it based?
Figma, Inc. operates in the AI / ML sector, based in SAN FRANCISCO. Figma is the leading collaborative design platform for building meaningful products. Design, prototype, and build products faster—while gathering feedback all in one place.
Explore related

See where Figma, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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