âTruly specialâ: Canvaâs valuation rockets to $19 billion
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Australian graphic design startup Canva has hit an on paper valuation of $US15 billion ($19.7 billion) after securing a new round of funding from major US investment funds.
The latest investment of $US71 million was led by US investment firm Dragoneer, Australian venture capital firm Blackbird Ventures, Scott Farquhar and Kim Jacksonâs Skip Capital and US investment firm T. Rowe Price.
The milestone comes with Canva on track to turn over $US500 million this financial year, a 130 per cent increase, buoyed by the shift to remote collaboration driven by the coronavirus pandemic.
Canva co-founder Melanie Perkins. Source: supplied.
Aussie unicorn and design tech darling Canva has secured another US$71 million ($92.5 million) in funding, more than doubling its valuation to US$15 billion ($19.5 billion).
The capital comes from new investors including T. Rowe Price Global Technology Fund and Dragoneer Investment Group, as well as repeat backers such as Blackbird and Skip Capital.
The fresh funding and new valuation also comes off the back of a year of strong growth for the Aussie unicorn, which has seen a 130% increase in revenue, year-on-year.
Recently, it surpassed the milestone of $500 million in annual revenue. And, according to a statement, it had achieved this growth while also remaining profitable.
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Visual Communications Platform Canva Announces USD 15 Billion Valuation; Launches Suite of Presentations Products for the Workplace
on April 07 2021 5:02 AM
More than 85% of the Fortune 500 Embrace Canva to Bolster Collaboration and Productivity, with over 250 million Presentations Created
SYDNEY (BUSINESS WIRE) Canva, the global visual communications platform, today announced an updated valuation of USD 15 billion following a USD 71 million investment.
This latest valuation affirms Canva as one of the fastest-growing software companies in history, surpassing $500 million annualized revenue this year. The company also formally announced a suite of new features for its flagship workplace product, Canva Presentations, which empowers teams around the world to design with ease and collaborate at scale.