Canva’s Valuation Touches $40 Billion After Raising $200 Million in Latest Funding Round

Canva, the Australian design-collaboration platform’s valuation has touched $40 billion after it raised $200 million in fresh capital. This makes Canva one of the most valuable private software firms in the world. Besides, this news will also catapult the Australian tech scene forward. 

Who are Canva’s Investors?

Rowe Price Group Inc. led the latest funding round, which also saw a mix of old and new investors. Some of these include Sequoia Capital, Global Equities, Franklin Templeton, Greenoaks Capital, Felicis, Blackbird, Bessemer Venture Partners, and Aire Tree Ventures.

SEE ALSO: Canva Valuation Soars to $15 Billion After Latest Investment

Canva’s Soaring Valuation

Canva’s valuation has seen a three-fold increase from $15 billion just around five months ago to the current valuation of $40 billion. What’s more interesting is that Canva is now the world’s fifth most valuable startup company following the trails of ByteDance Ltd., Stripe Inc., SpaceX, and Klarna Bank AB. 

Just to give you some perspective on Canva’s incredible growth, the Australian design-collaboration platform was valued at $6 billion in June 2020 and around $3.2 billion in 2019. 

Melaine Perkins, Canva’s Chief Executive Officer said that the goal is to build one of the world’s most valuable companies. She said that despite moving in the right direction, the company is not there yet. 

How Will Canva Use the Fresh Capital?

The company is set to utilize the latest capital injection for product development. Pekins says that there is tremendous opportunity in portfolio websites. It is one of the area’s Canva will be looking at moving forward. She said that people are more interested in creating their own website instead of sending presentation and resume materials to display their work. 

Apart from this, the firm is also looking to double its workforce in the next year, after doubling its employees to 2,000 from 1,000 in the last year. 

More about Canva

Canva has over 60 million active users across 190 countries. The platform enables users to design t-shirts, brochures, flyers, Instagram posts, and presentations using the tool’s drag and drop features. 

According to Perkins, the company has doubled its revenue year on year and is on course to exceed $1 billion in annualized revenue by 2021. 

SEE ALSO: ASX Listed Online Book Retailer Booktopia Scores Supply Deal with Zookal

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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