Canva Valuation Soars to $15 Billion After Latest Investment

Canva, the Australian graphic design platform revealed that its valuation has doubled to $ 15 billion after raising $ 71 million in the latest funding. The news comes just under a year after the design unicorn valuation touched $ 6 billion during the COVID-19 pandemic. 

Canva’s latest funding

The Sydney-based company revealed that it has managed to raise $ 71 million in a new funding round. The funding was led by new investors Dragoneer and T.Rowe Price. Existing investors which include Skip Capital and Blackbird Ventures also participated in the latest fundraiser. 

Canva said that with the latest funding, it will continue to invest in product development and hiring new resources. As it eyes global expansion, Canva recently established its presence in Austin, Texas, and hired personnel in San Francisco. 

SEE ALSO: Xero Completes its Biggest Deal by Acquiring Danish Workforce Management Platform Planday

Canva also disclosed that the business grossed $ 500 million in annualized revenue in 2020, a whopping 131% rise from the previous year. 

The new funding is set to make both, co-founder and COO, Cliff Obrecht and co-founder and CEO Melaine Perkins billionaires. 

Perkins said that she is very proud of how the global team has grown as they work together to empower the world to design. 

More from the co-founders

According to Forbes, Obrecht, and Perkins, who married each other in January 2021, owned around 15% of the company before the investment. 

As Canva’s valuation rockets to $ 15 billion, each of them will now hold stakes worth around $ 2 billion. 

The couple said that they are most likely to use the money to launch a foundation and contribute to global causes such as global warming and wealth inequality.

Obrecht explained that the motivation has always remained to build and develop a product that people love to use and with the wealth it generates, they want to give back to the world. 

More about Canva

Canva was launched in 2013 by co-founders Cameron Adam, Cliff Obrecht, and Melaine Perkins. Currently, the design platform has a staggering 55 million active users around the world out of which, 3 million are using the paid version. 

Canva gained popularity due to the lightweight design tools which simplified creating digital assets for companies has transformed into a real-time collaboration tool.

Canva maintains that over 85% of the 500 biggest companies (by revenue) in the U.S. use the software in some way or the other. 

Image Source: Canva

Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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