Canva’s valuation more than doubles to $40 billion in latest funding round

Canva

Graphic design and collaboration platform Canva said that it is now valued at $40 billion after the company raised $200 million in a funding round led by investment management firm T Rowe Price.

The Aussie company, which allows users to make posters, social media graphics, presentations and more by providing pre-sets and templates was valued at $15 billion in a funding round in April.

The money raised will be used to expand Canva’s team of more than 2,000 employees, which the company expects to double in the year ahead, it said.

T Rowe Price, which has $1.68 trillion in assets under management, was joined by Franklin Templeton, Sequoia Capital Global Equities and Bessemer Venture Partners among others in the latest funding round.

Launched in 2013, Canva has more than 60 million monthly active users across 190 countries and counts companies including Zoom Video Communications, Salesforce and PayPal as its customers.

The team at Platform Executive hope you have enjoyed the ‘Canva’s valuation more than doubles to $40 billion in latest funding round‘ article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Chavi Mehta in Bengaluru. Editing by Shailesh Kuber.

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