Aussie tech unicorn Canva is now valued at $19 billion on paper following a fresh round of US funding
- Australian graphic design startup Canva has rocketed to a new milestone with a valuation of $US15 billion ($19.7 billion).
- This comes after the Australian-based company secured $US71 million in funding.
- Canva’s user base increased by 50% during pandemic lockdowns in 2020, the company said.
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Australian tech unicorn Canva has hit an on-paper valuation of $US15 billion ($19.7 billion).
This comes after the company secured $US71 million in a new round of funding from several US investment funds.
The latest investment was led by US investment firm Dragoneer, Australian VC firm Blackbird Ventures, Scott Farquhar and Kim Jackson’s Skip Capital and US investment firm T. Rowe Price.
It also follows a successful 2020 for the company, powered by the increased demand for tools that enable remote collaboration during the coronavirus pandemic.
Now, the company said it’s on track to increase turnover by 130% this year, to $US500 million this financial year.
Canva has raised nearly $US390 million overall and also announced a suite of features for its products geared toward remote work, including workplace templates and new tools to enable remote presentations.
Co-founder Melanie Perkins said in a statement the company wants to optimise its products even further for remote work and collaboration as the post-pandemic world shifts toward flexible work.
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