In an unexpected development, InVision, the UX design firm based in New York, has announced the closure of its platform by the end of this year. In a heartfelt blog post, CEO Michael Shenkman expressed his gratitude for the trust and support the company has received during the 12-year journey. He emphasized the company’s commitment to ensuring a seamless transition for its users.

Founded in 2011, InVision initially gained recognition as a prototyping tool for designers, carving a niche in design collaboration. With a peak valuation of $2 billion, it emerged as a formidable challenger to design giant Adobe. The company experienced a series of successful funding rounds, starting with $1.5 million in its inaugural year, escalating to $45 million in 2015, and achieving unicorn status in 2017 with a $100 million funding round.

However, as InVision reached new heights, the design industry underwent significant transformations, with Figma emerging as a key player. Figma, which integrated UI design and prototyping, raised $50 million in a 2020 Series D funding round, securing a $2 billion valuation. In contrast, InVision faced challenges adapting to the evolving design landscape.

In an attempt to stay competitive, InVision launched Freehand, a virtual workboard system designed to unite teams. Despite this effort, Figma surpassed InVision, and in 2022, Adobe’s $20 billion acquisition of Figma drew global attention. Although the acquisition ultimately fell through, InVision’s fate was sealed.

One silver lining amidst the shutdown is the fate of Freehand, acquired by collaboration platform Miro in late 2023. While the current version will wind down with InVision’s closure, users can expect to see Freehand’s elements integrated into Miro from this quarter, with major enhancements completed by summer 2024. Miro’s Chief Product and Technology Officer, Jeff Chow, announced that Freehand subscriptions would be honored, offering users the opportunity to seamlessly transition to Miro at no extra cost, accompanied by data migration services.

InVision users are urged to swiftly transition to alternative tools for new projects and export any essential data. All documents, including prototypes, Freehands, boards, and assets, are slated for deletion shortly after the shutdown on December 31, 2024.

As Shenkman bids farewell, he reflects on InVision’s impact on the design industry, expressing gratitude for the collective effort in reimagining how designers collaborate and elevating the importance of design thinking. Despite InVision’s closure, Shenkman remains optimistic about the industry’s strength, leaving the InVision community in capable hands. The announcement marks the end of a significant chapter in the design industry, emphasizing the dynamic nature of technology and business landscapes.