Australia’s Canva valued at $15b after $71m funding round

Australia’s Canva, a provider of design and publishing tools, on Tuesday announced it has raised a fresh $71 million investment that values the company at $15 billion.

US investment firms Dragoneer and T. Rowe Price are new investors in the funding round. Local media reports stated that existing investors Australian venture capital firm Blackbird Ventures and Skip Capital also participated.

The investment has brought the total capital raised by Canva to almost $390 million, according to reports.

Other backers of the business include US funds such as Bessemer Venture Partners, Sequoia Capital, General Catalyst and Felicis Ventures.

Canva claims it remains profitable, achieving a 130% year-over-year increase in annualised revenue which has surpassed $500 million. The company has also surpassed more than 55 million monthly active users.

Canva also launched a suite of new features for its flagship workplace product, Canva Presentations, including workplace templates, live presentations, mobile-first presentations, charts and infographics, and others.

The work suite of features is backed by the seven-year-old company’s content library of more than 9,000 presentation templates and over 100 million ingredients for design including photos, videos, audio tracks, and illustrations.

Presentations have become the company’s fastest-growing use case, with more than 250 million created to date and 85% of Fortune 500 companies embracing Canva, the company said.

“As the world moves towards an increasingly visual and distributed environment, so does the demand for collaborative platforms that enable everyone to embrace visual communication,” Canva said in a statement.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.