Canva Valued At $6 Billion With New Funding
|Canva CEO Melanie Perkins.
Photo credit: Melanie Perkins on Flickr, under Creative Commons license
Design software company Canva has raised $60 million in new funding that sets its valuation at $6 billion, nearly double the company’s last valuation of $3.2 billion. The new funding was led by venture capital firms Blackbird and Sequoia China, with participation from General Catalyst, Felicis, and Bond. Canva says the new funding will help it expand its collaboration tools and launch a new office in the U.S. state of Texas. The new office is intended to serve as Canva’s U.S. enterprise hub.
With the new funding, Canva has now raised about $300 million in total funding since its inception. All of the new funding happened to come from already existing investors in Canva. Canva says it’s currently profitable and is doubling its paying user base, which now stands at 500,000 organizations and 1.5 million paid subscribers.
Canva was founded in and has been based out of Sydney, Australia since its inception.