Having recently raised $ 71 million, Canva, an Australian graphic design platform, announced that its worth has doubled to $15 billion. When the COVID-19 epidemic hit, the design unicorn was valued at around $6 billion.
New financing for Canva
A recent fundraising round brought in $ 71 million for the Sydney-based firm. Dragoneer and T.Rowe Price, two new investors, provided the bulk of the money. A number of the company’s current backers chipped in for the new round of funding, too, including Skip Capital and Blackbird Ventures.
Canva has announced that it will use the newly acquired capital to maintain its commitment to product development and staff expansion. Canva recently set up shop in Austin, Texas, and made some key hires in San Francisco, both moves indicative of the company’s plans to expand internationally.
Canva also revealed that its annualized sales in 2020 were $ 500 million, a massive increase of 131% over the prior year.
Co-founder and Chief Operating Officer Cliff Obrecht and Co-Founder and Chief Executive Officer Melaine Perkins are expected to become millionaires thanks to the new funding. As the global team works together to enable design all across the world, Perkins is incredibly pleased with how they have developed.
Who Controls the 15% Investment of Canva?
Obrecht and Perkins, who got married in January 2021, controlled about 15% of the company prior to the transaction, as reported by Forbes.
Since the recent increase in Canva’s valuation to $ 15 billion, they now have roughly $ 2 billion in equity. The couple plans to start a foundation and donate to global concerns like climate change and economic inequity with the money.
Obrecht stated that the company’s goal has always been to provide a product that consumers adore, and with the money made from selling this product, the company plans to help those in need.
More About Canva
Canva was created by Cameron Adam, Cliff Obrecht, and Melaine Perkins, and it debuted in 2013. There are currently 55 million active users of the design platform, with only 3 million paying for the premium service.
Canvas’s popularity grew as it evolved from a lightweight set of design tools to a real-time collaboration platform that made it easier for businesses to create digital assets. 85% of the Fortune 500 firms in the United States, according to Canva.
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