A disruptive graphic design platform that allows users to create social media graphics, presentations, posters and other visual content. Canva makes graphic design amazingly simple for everyone, by bringing together a drag-and-drop design tool with a library of more than 1 million stock photographs, graphic elements and fonts.
Canva raises a fresh $60M in funding on June 22, 2020. The financing was led by Blackbird Ventures and Sequoia China, with participation from existing backers including General Catalyst Partners, Felicis Ventures and Bond. The new round brings Canva's valuation to $6B, which is almost double from the previous $3.2B valuation in October 2019, this comes on the back of a $2.5B valuation from Series B on May 19, 2020. Canva has now raised a total of $311M in funding till date.
Canva operates what’s known as a freemium model, with some options available for free and others available for a fee. It also has a growing enterprise business, working with companies like Hubspot Inc., Warner Music Group Corp., Skyscanner Ltd. and American Airlines Group Inc. The company now has more than 1.5 million paying subscribers.
Since launching in August 2013, Canva has been changing the way in which we communicate. The company has more than 30 million monthly active users, acquired free content sites Pexels and Pixabay last year, adding more than 1 million stock photos, vectors and illustrations on to its platform, its website shows.