SaaS business model analysis: Figma

by Saasy

SaaS business model analysis Figma

Figma is a vector graphics editor and prototyping tool founded in 2016.

CEO: Dylan Field

Figma hit $81.1M Revenue with 50K customers in 2022. Figma currently makes money by only selling its core product, its collective design tool, but is also balanced to generate revenue from Figjam, a whiteboarding tool.

Figma Revenue

Figma witnessed extreme growth over the past few years, smashing $10B valuations in less than 5 years. After the pandemic, their valuation grew by 5x

Pricing Plan (on July 2022):

Figma sells its core product using a freemium model with the free ‘Starter’ plan being free for up to three editors. They have the 'Professional plan' and 'Organization plan' too.

Figma Pricing plan

Comparable to Figma’s core offering, Figjam’s pricing also follows a freemium pricing strategy having both free and paid plans ($8 & $15 per editor/month).

Figjam Pricing plan