a16z co-founder and partner Marc Andreessen. image: Joi Ito on Flickr, under Creative Commons license

Famed venture capital firm Andreessen Horowitz, also known as a16z, is providing at least $50 million in new funding for design software company Figma, according to a report from Forbes, which says the funding will value Figma, an 8-year-old company, at $2 billion. According to Forbes, Figma has initiated talks with Andreessen Horowitz, which is, in turn, in the process of finalizing an investment. If the report stands true, it’ll be a significant feat for Figma, which last raised funding last year at a post-money valuation that amounted to north of $400 million.

Figma develops browser-based design tools that compete with the likes of Adobe and Sketch. The company’s tools facilitate not just design but collaboration between designers working on collective projects. Among Figma’s customers includes the likes of Slack, Uber, and Microsoft. Since its inception, Figma is known to have raised some $83 million in funding including from well-known venture capital firms like Kleiner Perkins, Sequoia Capital, Index Ventures, and Greylock Partners. Among Figma’s investors also includes individual backers like LinkedIn’s Jeff Weiner and Instagram co-founder Mike Krieger.

At the start of this year, Figma reported it had 150 employees. That figure has likely not shot up by a high amount entailing Figma could have a headcount of anywhere from 150-200 employees currently. In such a case, a $2 billion valuation, amounting to around or more than $10 million per employee seems impressive.

Figma was founded in 2012 by two entrepreneurs, Dylan Field and Evan Wallace.