Canva valued at $40bn company by receiving $200 Mn fresh funding
By MYBRANDBOOK
Canva allows anyone to design. Presentations, t-shirts, brochures, flyer and one can name it. Co-founder and CEO Melanie Perkins and her team started working on Canva in 2012, and launched the product in 2013. The USP of the company is creating a truly simple user interface, where folks can simply drag and drop components into their designs, complete with hundreds of thousands of templates, without doing a lot of fine tuning.
Canva is now valued at $40 billion following a fresh capital injection of $200 million (USD) in a round led by T. Rowe Price. New and existing investors participated in the round, including Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures.
Another key step with Canava is creating a massive library of content, from fonts to templates to imagery, gifs and videos. The third step is to make that product accessible to everyone, whether it’s a platform or device or language or price.
At present, Canva has more than 60 million monthly active users across 190 countries, with big-name companies on the enterprise plan. This includes Salesforce, Marriott International, PayPal and American Airlines.
Canva expects to exceed $1 billion in annualized revenue by the end of 2021. More than 500,000 teams are paying for the product in some capacity. It has the team size of 2,000. Now with the fresh funding Canva to double its workforce in the next year. Canva also shared its DEI numbers, with females representing 42% of the workforce.
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