Canva Announces $ 40 Billion Valuation Powered by Global Demand for Visual Communication
SYDNEY – (BUSINESS WIRE) – Canva, the global visual communications platform, today announced a $ 40 billion valuation following a $ 200 million financing round led by T. Rowe Price and new and existing strategic investors including Franklin Templeton, Sequoia Capital Global Equities, Bessemer known Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures. The latest rating solidifies Canva as one of the fastest growing software companies to date.
“Visual communication has become a universal need for teams of all sizes in almost every industry,” explains Canva co-founder and CEO Melanie Perkins. “It has been amazing to see Canva’s continued growth around the world over the past year. More than 60 million people now use Canva for everything from creating startups to raising awareness for nonprofits, supporting distance learning, working in distributed teams, and managing global corporate brands at scale. We are incredibly excited to continue accelerating our mission to truly empower the world for design. ”
Canva continues its accelerated growth on a large scale
Canva’s soaring rating marks the milestone of more than 60 million monthly active users in 190 countries. As both usage and global adoption increase, the company continues to grow rapidly, more than doubling its revenue year over year, and remains on track to exceed $ 1 billion in annual revenue by the end of the year and generate positive free cash flows at the same time. The new round of funding will be used to accelerate this continued growth, including adding to Canva’s team of more than 2,000 people, which the company is expected to double in the coming year.
The Canva community has created more than 7 billion designs, with 120 new designs created every second using Canva’s extensive library of more than 800,000 templates and over 100 million design ingredients, including photos, videos, stickers, audio tracks and illustrations.
“The need for visual communication and online collaboration has become increasingly important, driving Canvas to exceptional growth and adoption in teams and workplaces of all sizes and in many industries,” said Alan Tu, portfolio manager, T. Rowe Price Global Technology Fund. “We are excited to expand our investment in supporting Canva in its mission to democratize visual communications.”
Team adoption quadruples when the jobs Canva. accept
Canva is fast becoming the preferred collaboration platform for teams and workplaces around the world. From large corporations to small businesses, the shift to distributed work has more than quadrupled in the past twelve months, and so have Fortune 500 companies like Zoom, Salesforce, Marriott International, PayPal, and American Airlines using Canva as a company, have increased customer acceptance.
“We look forward to using Canva to manage our global brand resources and campaigns in one place. With millions of people around the world using Zoom, Canva will play an important role in further scaling our branding and marketing efforts while enabling our rapidly growing team to create content quickly, “said Wendy Bergh, Head of Digital and Online at Zoom, one of the newest corporate clients to use Canva to scale a global brand.
As usage by teams and in the workplace increases, presentations have quickly become one of the most popular uses for Canva. More than 6 million presentations are now created every week. The number of presentations created has more than tripled in the last 12 months. Over the next 12 months, Canva will expand its repertoire of visual communication products, with a new video editor, a responsive website builder and an offline mode due to be launched later this year.
Launched in 2013, Canva is a free online visual communication and collaboration platform with the goal of making design accessible to anyone in the world. With a simple drag-and-drop user interface and a wide variety of templates ranging from presentations, social media graphics, posters, clothing to videos, plus a huge library of fonts, stock photography, illustrations, video footage and audio clips for anyone can pick up an idea and create something beautiful. Canva is available for desktop, web, iOS, and Android.