Aussie startup online design and print business Canva is now valued at US$1bn, and has raised an extra investment round of US$40m.
The company says that while it is generating profit, with investments from previous rounds remaining untouched, it decided to take on additional capital to expand globally and advance its core product offering. In this round, Sequioia China joined with previous investors Blackbird Ventures and Felicis Ventures to back the Canva business.
Canva launched in 2012, and claims to already have 10 million users. Melbourne commercial printer PMI is partnering with Canva for its new venture, Canva Print. Canva is now in 179 countries. Over the past year it has launched in 26 languages and plans to be operating in 100 by the end of this year.
[Related: Canva launches printing service in US]
Melanie Perkins, CEO and co-founder of Canva says, “We’ve only just started to scratch the surface of achieving our goal of empowering everyone to design anything, and publish anywhere.
“Design is no longer a niche requirement – every single profession today needs design to help communicate their message. In years gone by someone in sales could draft a letter but now has to create an engaging presentation to win customers. Non-profits have to create designs to spread their message to fundraise. Even the startup staple of business plans have been replaced by graphic pitch decks.
“The world is rapidly becoming more visual, yet traditional design tools in the market are too complicated to use, or so costly that they become inaccessible. Canva is designed to enable individual and teams to collaborate seamlessly, and our growing footprint is evidence of the widespread need that we are addressing. This additional funding will bring us one step closer to giving everyone the ability to thrive in an increasingly visual environment.”
Rick Baker, partner at Blackbird Ventures, who led the investment round, says, “Canva is making strides in democratising design for everyone. Its product growth and adoption across many demographics is exceptional. In just four years, Melanie Perkins and her team have taken the startup from humble beginnings in Australia, to what has now blossomed into one the fastest growing software businesses of all time. It is an exciting space to be in as we start redefining the workplace, and what it means to communicate in the 21st century.”
Canva Print is now available across Australia, the US, Europe and Mexico. The company employs 250 people in its headquarters in Sydney.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter