Canva raises $200 Million at $40 Billion Valuation for Design Software Industry

Canva is a design platform for the creation of any visual content from presentations to documents. The platform is free for users; however, it has a subscription plan Canva Pro and Canva Enterprise for advanced functions. More than that, Canva provides its clients with the printing of the created products service.

The new funding round was led by T. Rowe Price. Along with them Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures also participated. With new investments, Canva plans to enlarge the team as well as launch a new product – website design.

Canva was launched in 2013 in Australia by Melanie Perkins, Clifford Obrecht, and Cameron Adams. As of now, it has more than 60 million monthly users, among them are such companies as PayPal, American Airlines. The company’s team has 2000 employees, and it is not the limit. Adding to the future plan, the company aims to develop an offline mode and a video editor platform. “It’s critical both for our marketing and towards our mission of empowering people to design. But, as part of our marketing, it means that people are able to love the product, share it with their friends and family, and promote it on social media.” – said Melanie Perkins.

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