Canva, an Australia-based visual communications platform developer that counts media company VaynerMedia as an investor, secured $71m in funding on Tuesday at a $15bn valuation.
Investment manager T Rowe Price and investment firm Dragoneer co-led the round, which also featured existing investors including Skip Capital and Blackbird Ventures, according to Forbes.
Founded in 2012, Canva has built a design software platform with more than 55 million monthly active users that combines a selection of templates with an easy-to-use drag-and-drop interface, enabling them to create visually appealing documents that can incorporate video and audio.
The company said it has reached $500m in annualised revenue in 2021 and has introduced a range of new features to its collaborative enterprise product, Canva Presentations.
Melanie Perkins, co-founder and chief executive of Canva, said: “Now more than ever, teams and workplaces around the world need scalable, collaborative and easy-to-use visual communication products to empower them to achieve their goals.
“The launch of Presentations gives workplaces of all sizes a unique, flexible collaboration product that makes work feel like play. I am incredibly proud of our rapidly growing global team as we work together to empower the world to design.”
Canva has now secured over $353m altogether, having last raised money in a $60m round in June 2020 that was co-led by Blackbird Ventures and Sequoia Capital China and backed by fellow existing investors Bond and Felicis Ventures at a $6bn valuation.
Blackbird and Felicis Ventures also took part in the company’s $15m series A round in 2015 with VaynerMedia affiliate Vayner Capital and Matrix Partners. Its earlier backers also include General Catalyst, Bessemer Venture Partners, Shasta Ventures, AirTree Ventures, Founders Fund, InterWest Partners and 500 Startups.
