TECH - Figma Bags New Investment At $12.5B Valuation Nearly 40% Lower Than The Terminated $20B Adobe Deal | Benzinga
Figma Inc., a San Francisco-based design startup, has secured a $12.5 billion valuation in a deal that involved investment from a group of prominent firms.
What Happened: The investment group includes Coatue Management, Alkeon Capital Management, and General Catalyst Partners, reported Bloomberg on Thursday citing people with knowledge of the matter.
This investment has come through a secondary share sale, which has been finalized. The deal also involved current and former employees, as well as other equity holders.
Figma, which is currently generating over $700 million in annual recurring revenue, is expected to exceed $1 billion by next year. The annual recurring revenue was ...