Canva, a Sidney, Australia-based global visual communications platform, raised USD $200m in a funding round which valued tha company at USD $40 billion.
The round was led by T. Rowe Price with participation from new and existing strategic investors Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures.
The company intends to use the funds to accelerate growth, including expanding its team of more than 2,000 employees, which it is expected to double in the year ahead.
Launched in 2013 and led by CEO Melanie Perkins, Canva provides a free online visual communications and collaboration platform featuring a drag-and-drop user interface and a vast range of templates ranging from presentations, social media graphics, posters, apparel to videos, plus a huge library of fonts, stock photography, illustrations, video footage, and audio clips. The service is available on desktop, web, iOS, and Android.
The community has created more than 7 billion designs, using Canva’s library of more than 800,000 templates and over 100 million ingredients, including photos, videos, stickers, audio tracks, and illustrations.
Canva is also used by enterprise customers such as Fortune 500 companies including Zoom, Salesforce, Marriott International, PayPal, and American Airlines.