Figma filed its IPO prospectus on Tuesday, as the design software vendor looks to raise money and awareness to take on Adobe.

Timing is often everything with an IPO and things have rapidly changed since Figma first announced its plans to go public back in April.

Design software company Figma has filed the paperwork for a proposed initial public offering. The company, which Adobe once proposed acquiring in a cash-and-stock deal worth $20 billion, has filed ...