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Saturday, June 15, 2024

Australian Canva raised $71 Million at a valuation of $15 Billion.

Canva is a graphic design startup that Melanie Perkins developed. Recently, this company announced its success in raising $71 million. Canva had previously raised $60 million in a $6 billion valuation in 2020. In total, the company has been successful in raising $390 million until now.

Perkins recently showed Fortune the investor pitch deck designed by the company with different business metrics and graphical representations.

On the left side, icons of Microsoft, PowerPoint and Word are present, while on the other hand Adobe Photoshop provides beautiful visuals and is highly complicated.

Perkins said that the goal behind developing Canva is to create a simple experience so that people without a proper idea about design can also create good graphics.

This company has more than 55 million active users and created 5 billion designs. Team collaboration on this platform has been up to 60%, which has been able to help the employees working remotely even during the pandemic.

Due to the 3 million customers, the company’s revenue increased to more than 130% yearly. Some of the company’s corporate customers include American Airlines, Salesforce, and Mckinsey.

T. Rowe Price of Skip Capital and Blackbird Ventures also invested in the company. The portfolio manager of T. Rowe Price has mentioned that Canva has presented the opportunity to democratize visual communication. This company has recently acquired two A. I image tech startups Kaleido AI of Austria and Smartmockups of the Czech Republic. Canva is willing to integrate different A. I tool to create a more effortless and magical experience for the customers.

Canva currently has a few latest features like adding people’s voices and giving the option to the presenters to give presentations on a real-time basis. Perkins has mentioned that presentations should be interactive and engaging, a feature that is present in Canva.

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