WillItSurvive
Enterprise and productivity software · absorbed · United States

InVision

invisionapp.com ↗

Defunct design collaboration platform, shut down end of 2024 after losing to Figma.

Little protection left
Assessed 22 July 2026 · Evidence as of 22 July 2026
Not much stands between this business and its pressures.
On the recordSince 22 July 2026 · Checkable from Unscheduled · Every call on the record Checkpoint: Any residual IP, brand, or entity sale would be the only event left to track
The call

InVision is closed. Figma took the market, Miro took Freehand, and nothing operational remains to assess.

InVision made software where designers could work together on projects in real time. Figma took over that market by building a better, free-to-start product that was easier to use, and InVision's revenue fell from over $100 million a year to about $36 million before the company stopped operating. The company has no active product, no team, and no future unless something unexpected happens, like a buyer bringing the old technology back to life, though Miro now owns some of InVision's key pieces.

Why
01
AI pressure: None apparent. There is no product left for AI to eat. InVision shut down before generative design tools reshaped the category. Could AI do the core job? Yes, likely.
02
Bigger players: Figma. Figma already won the design tool war. InVision's Freehand went to Miro, and the core business closed by December 2024. Could a giant copy it? Yes, easily.
03
What protects it. None. No operating entity, no product, no revenue, no roadmap remain.
What would change this call
Any new company or product relaunching under the InVision brand or IP. Would signal a new entity trying to revive the name, not the original company.
Formal dissolution or asset liquidation filings for InVision's legal entity. Would confirm the wind-down is administratively complete.
Miro's product updates or usage growth involving the former Freehand tool. Would show where InVision's former users and technology actually ended up.
Key numbers
  • Revenue fell from $100M+ to ~$36M ARR (2023)
  • Valuation peaked near $1.9B in 2018 (2018-12)
  • Headcount dropped from 1,200+ to ~360 (2026)
Named risks
  • Core business fully discontinued as of Dec 31, 2024 with customer data deleted. Severity: high
  • No product roadmap or operating entity identified since shutdown announcement. Severity: high
  • Ambiguity over which legal entity, if any, uses the InVision name or IP going forward. Severity: medium
  • Conflicting third-party revenue and headcount estimates (e.g., Latka's $63.3M 2024 figure) create confusion about actual status. Severity: low
Rivals, as read in July 2026
RivalDirectionEvidence
Figmalosing toCredited as primary driver of InVision's decline in prototyping and handoff, Fast Company 2024-06-25
Mirolosing toAcquired InVision's Freehand product, brand, and team outright, Nov 2023
AdobecontestingAttempted $20B Figma acquisition (2022) collapsed in late 2023 amid regulatory scrutiny
Questions people ask
Is InVision still in business in 2026?
No. InVision discontinued its core design-collaboration services by December 31, 2024, per CEO Michael Shenkman's January 4, 2024 announcement, and customer data was deleted shortly after. The invisionapp.com domain still resolves as of July 2026 but only as a static legacy page, not an active product.
Did Figma kill InVision?
Figma is widely credited by outlets like Fast Company (2024-06-25) and LogRocket (2024-03-12) as the primary driver of InVision's decline in prototyping and design handoff. InVision, once valued near $2 billion in 2018, discontinued its remaining services by December 31, 2024.
Who owns InVision's Freehand product now?
Miro acquired Freehand's technology, brand, customer relationships, and team from InVision in November 2023, with InVision's then-CEO/CPO Jeff Chow moving to Miro. Miro has since continued AI investment in the space, acquiring generative-UI startup Uizard in June 2024.
What was InVision's peak valuation and revenue?
InVision reached a peak valuation near $1.9 to 2.0 billion after a $115 million Series F in December 2018, the same year it surpassed $100 million in annual recurring revenue. Revenue then fell to about $50 million in 2022 and roughly $36 million in 2023 per The Information.
Could AI replace what InVision used to do?
AI already has, but via competitors, not InVision itself. Its remaining categories, prototyping, design handoff, and whiteboarding, are exactly where AI-native canvas tools have accelerated disruption, per LogRocket (2024-03-12). InVision's own 'Freehand AI' feature moved to Miro when it acquired Freehand in November 2023.
How many people worked at InVision before it shut down?
Headcount fell from over 1,200 employees in early 2020 to about 600 by mid-2024, according to a Failory analysis published 2025-04-14. A separate 2026 estimate from Latka puts remaining staff at approximately 361, likely reflecting a skeleton post-shutdown entity.
Timeline
  • 2024-01-04CEO Michael Shenkman announces full shutdown of remaining services by Dec 31, 2024
  • 2023-11-07InVision sells Freehand product, brand, and team to Miro
  • 2023InVision revenue falls to roughly $36M per The Information
  • 2022InVision revenue falls to roughly $50M
  • 2021Secondary market transaction occurs; no new primary capital raised
  • 2018-12Series F raises $115M, pushing valuation to near $1.9-2.0B
  • 2018InVision surpasses $100M in annual recurring revenue
  • 2011InVision founded by Clark Valberg and Ben Nadel
Revision history
22 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
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