After Dylan Field took a leave of absence from Brown University in 2012, it took five years for Figma, the project management startup he cofounded, to launch its first paid product, but the company has been buzzy and booming ever since.
While Adobe has long been the giant in design software, Figma has built up a huge following of designers, engineers, and artists for its cloud app that allows users to collaborate on projects in real time. CEO Field and his team have raised nearly $133 million, including a fresh $50 million Series D from Andreessen Horowitz in March, at a whopping $2.05 billion valuation.
The coronavirus-crisis has only sped up Figma’s ascent, Field says. In the first half of the year, the company saw signups rising, time spent within the app swelling, and deals closing faster than ever before. Remote businesses needed to revamp their online presence, which fueled a high demand for product and user experience designers, while creative teams had to find new ways to work together, apart. All this has propelled more business for Figma.
"The entire world is becoming more digital now," Field says. "As we're going through that transformation, the companies that are going to win are the ones that are best designed and have the best design practices."