Figma and Navan, two long-standing members of the Prime Unicorn Index’s Top 30 Index, are now charting parallel courses toward the public markets. Their filings give the Index its clearest look yet at how late-stage venture names are scaling as investor interest in fresh listings returns.
Figma’s newly public S-1 lays out the most complete financial picture the collaborative-design firm has ever shared. The company generated $749 million in revenue during 2024, a 48 percent jump from the prior year, and posted a roughly 17 percent non-GAAP profit margin. It also touts 13 million monthly active users, penetration of 95 percent of the Fortune 500, and a user base that is two-thirds non-designers—a sign of widening appeal beyond its core design audience. After the collapse of Adobe’s proposed takeover in late 2023, Figma moved quickly, first submitting a confidential draft in April and now planning to list on the NYSE under the ticker FIG.
Navan (formerly TripActions) took the quieter route, submitting a confidential draft registration on 20 June 2025. While the S-1 remains sealed, the travel-and-expense platform’s most recent financing round—in 2022—raised $304 million in equity and structured debt at a $9.2 billion valuation. The Palo Alto company, backed by Andreessen Horowitz and Lightspeed, has broadened from business-travel booking into corporate cards and automated expense management, counting firms such as Zoom and Lyft among its customers.
Figma and Navan would join CoreWeave, ServiceTitan, Hinge Health, and Circle as recent IPOs in the Prime Unicorn 30 Index. Here’s a quick look at how the Prime Unicorn 30 Index is performing.
