Founders Fund Joins $40 Million Series C Round for Collaborative Design Platform Figma

San Francisco, CA – Founders Fund, a prominent venture capital firm, participated in Figma's $40 million Series C funding round, which closed on February 8, 2019. The round was led by Sequoia Capital, with additional investment from Coatue and several notable individual investors. This investment aimed to bolster Figma's continued development of its collaborative interface design platform.

The investment was highlighted by John Luttig, a Principal at Founders Fund, who publicly praised Figma's co-founder and CEO, Dylan Field, known by his online handle "zoink." In a tweet on February 14, 2019, Luttig stated, > "i've known @zoink for two years and have been blown away by his intuition and execution abilities on product (and board games). i think @figmadesign will become a magnet for the best product and design talent of our generation. very excited for @foundersfund to get involved!"

Figma, founded in 2012 by Dylan Field and Evan Wallace, quickly gained traction for its browser-based, real-time collaborative design tools. The company's platform allows multiple users to work simultaneously on design projects, a significant departure from traditional desktop-based design software. This approach positioned Figma as a leader in the evolving landscape of digital product development.

The Series C funding was intended to support Figma's investment in its organizational capabilities and enhance the overall user experience for both individual designers and larger teams. At the time, Figma was already being utilized by major companies such as Square, Uber, Twitter, and GitHub, demonstrating its growing influence in the design industry.

Figma has since experienced substantial growth, becoming a dominant force in UI/UX design. Its innovative approach to collaborative design led to a proposed $20 billion acquisition by Adobe in 2022, though this deal was ultimately terminated in December 2023 due to regulatory concerns. The company continues to be a key player in the design software market.