Diligence memo · auto-generated · as of July 2, 2026
Figma, Inc.
Figma, Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Figma, Inc. operates in AI / ML, 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.
Sub-sector tags: ai/ml.
Capital & rounds (filed)filed
Figma, Inc. has raised $715M in disclosed capital across 7 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $416M on 2024-05-15.
Most recent recorded round closed around 2024-05-15.
Valuation (modeled)modeled
Provath models Figma, Inc. at approximately $6.4B (range $3.2B–$8.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: 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.
Financing rhythm & timingmixed
Historic cadence: a new round about every 22 months.
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.
The last round stepped up 2.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 99% of AI / ML peers (2067 compared).
Modeled value ranks above 99% of those peers.
Closest niche peers: CoreWeave, Inc., SMG Aggregator, LLC, Clinigence Holdings, Inc., Envisionit Deep AI.
Peoplefiled
16 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.