Figma Launches Figma Make Ahead of IPO, But Faces Rising Challengers

In the months leading up to its long-anticipated IPO, Figma is leaning heavily into AI. The company’s newest release, Figma Make, moves its platform further into the realm of AI-assisted software development, letting users generate app prototypes from text prompts. It’s a milestone release for Figma. Yet the move comes amid intensifying pressure from a new class of competitors born directly from the AI era, prominently: Lovable, a Swedish startup that has grown quickly by offering a similar text-to-interface experience. As Figma’s AI tools exit beta and its S-1 circulates on Wall Street, the company faces a balancing act: defending its lead while adapting to a technology stack being redefined by generative interfaces. AI Integration Deepens, but Workflow Gaps Remain Figma’