Canva, one of the most popular cloud-based tools for graphic design, is now worth $40 billion after their recent fundraise.
The company has recently raised $200 million in a new funding round, with plans to go public in the near future.
- Canva was founded by Melanie Perkins (CEO), who started working on the product back in 2012.
- The new round of funding was led by T. Rowe Price. Other notable investors include Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures.
- The company currently has over 2,000 employees, with plans to double its workforce in the next year with the fresh injection of capital.
Why It Matters
- Canva has over 60 million monthly active users today, across 190 countries.
- Currently over 500,000 teams are paying for Canva's service on a subscription-basis.
- The company expects to exceed $1 billion in annualized revenue by the end of 2021
- Some of the company's clients include Salesforce, Marriott International, PayPal, and American Airlines.