InVision, a New York-based digital design platform company, has raised $115 million in Series F funding at a $1.9 billion valuation giving the company “unicorn” status. InVision has raised a total of $350 million and the company also announced that it is now hitting $100 million in annual recurring revenue.
This round of funding was led by Spark Capital. Megan Quinn of Spark Capital will be joining InVision’s board in conjunction with this funding round.
Goldman Sachs also participated in this round along with existing investors Battery Ventures, ICONIQ Capital, Tiger Global Management, FirstMark, and Geodesic Capital. Atlassian is also a strategic investor in this round as users of its subsidiaries like Trello, Jira, and Confluence can collaborate through InVision.
InVision now has five million users and is being used by 97% of the Fortune 100. Plus the company’s design tools and resources are used by more than 60,000 customers including Adidas, Amazon, General Electric, IKEA, NASA, Netflix, Qantas, Starbucks, Toyota, Uber, and Vodafone.
“Compelling product experiences have become the deciding factor in the battle for the hearts and minds of every customer on the planet. With most customer experiences now happening on a screen, every organization is waking up to the strategic centrality of great digital product design,” said InVision co-Founder and CEO Clark Valberg in a statement. “It’s Amazon vs Walmart, Uber vs Lyft, Airbnb vs Marriott, Chase vs Capital One — whichever experience the customer feels most connected to wins — and the economic impact of those clicks is reshaping every single industry. Through our platform, design education and community programs, InVision’s mission is to bring design-driven innovation to organizations around the world.”
Launched in 2011, InVision started as a prototyping tool where users could build designs without requiring engineering teams to do it. Then the prototypes would be sent to engineering and product teams to collaborate on it further.
Later, the company built a collaboration suite called InVision Cloud so that users could collaborate on designs online. The company also launched InVision Studio as a screen design tool created specifically to support modern digital product designers, which has been downloaded hundreds of thousands of times.
InVision Studio was recently released in version 1.0 and it is packed with capabilities and performance enhancements inspired by early users. InVision Cloud powers the product design workflow from ideation and prototyping to presentations and development.
And InVision Design System Manager (DSM) enables designers and developers to build digital products faster by managing a company’s brand and user interface components in one central area.
InVision Studio and DSM are used by companies like Bloomberg, General Assembly, Home Depot, Intuit, Salesforce, Spotify, and The Washington Post.
“Clark and the team at InVision were early to recognize the growing importance of product design for companies of all sizes and in all industries,” added Quinn. “The InVision product suite enables designers to create and collaborate with colleagues throughout the product development process, ultimately servicing the entire organization. By championing the role of designers, educating companies on how to leverage design, and continuing to release innovative products, they have become the leading company and voice in product design.”