Canva is known globally as a go-to tool for crafting customisable graphic designs for business logos to street event posters. Now, with the launch of Canva Video, the Australian unicorn aims to challenge traditional video editing tools.
The video editing tool allows users to create professional videos for free. It features thousands of professional video templates and animations and hundreds of free music tracks through Canva’s partnership with a popular royalty-free audio track provider.
“Our mission is to empower everyone to design anything without any complex software or having to go to different sources for different elements. We are bringing the same experience to our video editing tool,” said Canva co-founder Cameron Adams.
Canva hit a valuation of $3.2 billion after raising $85 million in a funding round led by Mary Meeker and Mood Rowghani, General Partners at venture capital firm, Bond, in October. That makes the company, co-founded by 32-year-old Chief Executive Officer Melanie Perkins, one of the most valuable female-led technology startups in the world.
The investment comes five months after Meeker, a popular figure in Silicon Valley for her annual internet trends report, and Rowghani picked Canva as new VC firm Bond’s first investment.
Perkins told Bloomberg that the capital will be used to drive major changes, doubling Canva’s headcount to 1,400 over the coming year and introducing a new Canva for Enterprise.
Canva Video is just one of the major changes that the company announced Friday in Sydney. In the said event, the Australian tech unicorn also announced the launch of Canva Apps, an initial collection of third-party integrations and extensions designed to boost user experience
The company also unveiled Canva for Education, a free product tailored to the demands of schools. The beta version is available for Australian schools.
Canva said a total of one billion designs have been created using its platform this year alone, bringing the total designs created since its inception in 2012 to two billion. The platform is available in more than 100 languages.