InVision

Once the dominant design prototyping and collaboration platform, InVision lost significant market share to Figma before ultimately shutting down in 2024.

InVision was founded in 2011 and quickly became one of the most widely adopted design collaboration tools in the technology industry. The platform allowed designers, product managers, and developers to create interactive, clickable prototypes from static design files, enabling teams to simulate user experiences and gather feedback before writing a single line of code. At its peak, InVision served millions of users and was used by the majority of Fortune 100 companies, establishing itself as an essential part of the modern product design workflow. The company expanded its product suite over the years to include InVision Studio, a standalone design tool meant to compete with Sketch and Figma, as well as Freehand, a collaborative digital whiteboard. InVision raised over $350 million in venture capital funding, achieving unicorn status with a valuation reportedly exceeding $1.9 billion. However, the rise of Figma — which combined design and prototyping in a single browser-based tool with real-time collaboration — fundamentally disrupted InVision's market position and eroded its user base throughout the early 2020s. Facing mounting competitive pressure and a challenging macroeconomic environment, InVision underwent significant layoffs in 2022 and 2023, ultimately announcing in 2023 that it would wind down its services. The platform officially shut down in December 2024, marking the end of a company that had once been synonymous with design prototyping. InVision's story became a cautionary tale in the SaaS industry about the speed at which a dominant market position can be disrupted by a better-integrated product.

• 2011Founded
• —Defunct