Coatue, General Catalyst Back Figma at $12.5 Billion Value
- Deal was secondary share sale with current, former employees
- Other investors included Sequoia, Andreessen Horowitz, Iconiq
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An investor group including Coatue Management, Alkeon Capital Management and General Catalyst Partners have invested in Figma Inc. as part of a deal that values the design startup at $12.5 billion, according to people with knowledge of the matter.
The deal comes as the San Francisco-based company is delivering annual recurring revenue of more than $700 million, a figure that is projected to surpass $1 billion by next year, one of the people said, asking not to be identified because the information isn’t public. Yearly recurring revenue stood at about $400 million in late 2022.