Design Software Maker Figma, Backers Raise $1.2 Billion in IPO

Figma Inc. and some of its backers raised $1.2 billion in an initial public offering, pricing its shares above the marketed range, in one of the most in-demand listings of the year.

The design and collaboration software company and investors including Index Ventures, Greylock Partners and Kleiner Perkinssold 36.9 million shares at $33 each, according to a statement Wednesday confirming an earlier Bloomberg News report. The shares were marketed for $30 to $32 per share, after increasing the range Monday.

The pricing gives Figma a market value of $16.1 billion, based on the outstanding shares listed in ...