Venture Capital: Graphic Design Platform Canva Nabs $200M At Massive $40B Valuation
Canva is now the fifth-most valuable startup in the world.
Australian graphic design platform Canva raised $200 million in a round led by global investment firm T.Rowe Price and included participation by Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures. The startup doubled its valuation over the last five months to $40 billion. (BBC)
Globally, Canva now ranks as the fifth most valuable startup – behind China’s ByteDance, which owns TikTok, payment platform Stripe, Elon Musk’s rocket company SpaceX and Swedish financial technology firm Klarna.
Founded in 2013 by Australians Melanie Perkins, (pictured above), Cameron Adams, and Cliff Obrecht. Canva provides design tools for individuals and enterprises.
The firm now has 60 million customers in 190 countries of which 500,000 are paying customers. Enterprise clients include Zoom (NASDAQ: ZM), Salesforce (NYSE: CRM), Paypal (NASDAQ: PYPL), Marriott International (NASDAQ: MAR) and American Airlines (NASDAQ: AAL).
Canva expects to clock revenue of $1 billion by the end of 2021. It became profitable in 2017 and currently has around 2,000 employees, double from a year ago.
“From large enterprises to small businesses, the shift to distributed working has seen team adoption more than quadruple over the last 12 months,” the company said in a statement, referring to the number of companies taking up its software.
Richest founders in Australia
The latest valuations puts the co-founders among the top 10 richest people in Australia.
According to Forbes, Perkins and Obrecht each own about 18% of the company, and Adams 9%.
Canva’s latest valuation tag implies that Perkins and Obrecht are individually worth over $6 billion, while Adams’ stake is valued over $3 billion.
Related Story: OLIO, Which Enables Food To Be Shared, Raises $43M
Image of Canva Co-Founder Melanie Perkins: Canva
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