InVision

Once a market leader in design prototyping and collaboration, InVision was overtaken by Figma and ultimately shut down in 2024 after failing to adapt to the shift toward integrated, real-time design platforms.

InVision was a New York-based design collaboration and prototyping platform founded in 2011 that became one of the most widely adopted tools in the product design industry. At its peak, the platform served millions of designers and product teams at thousands of companies worldwide, enabling them to transform static design mockups into interactive, clickable prototypes without writing code. InVision's tools facilitated collaboration between designers, developers, and stakeholders, making it a central hub in the design-to-development workflow. The company raised over $350 million in venture capital funding and reached a valuation of approximately $1.87 billion, achieving unicorn status. Its flagship products included the InVision prototyping tool, Freehand (a collaborative whiteboard), and DSM (Design System Manager). InVision also acquired several companies to expand its capabilities, including Muzli and Craft. At its height, the platform was used by teams at companies like Airbnb, Amazon, HBO, Netflix, and Slack, cementing its reputation as an enterprise-grade design tool. However, InVision struggled to compete as Figma emerged as a dominant all-in-one design platform offering real-time collaboration natively. The company underwent multiple rounds of significant layoffs between 2022 and 2023, reducing its workforce dramatically. In December 2023, InVision announced it would shut down its platform entirely, with services ceasing in early 2024. The company's story became emblematic of the challenges faced by single-purpose SaaS tools when more integrated competitors disrupted the market.