The Australian graphic design software business Canva Inc. is now valued at $6billion after the latest funding round which is nearly double last’s year’s $3.2 billion valuation.
Pretty awesome for a company that began as a Sydney start up by CEO Melanie Perkins, Chief Operating Officer Cliff Obrecht and Cameron Adams in 2012.
The fresh round of $60 million was led by Blackbird Ventures and Sequoia China, with participation from existing backers including General Catalyst Partners, Felicis Ventures and Bond, Chief Operating Officer Cliff Obrecht told Bloomberg in an interview.
What is great about Canva is that it helps you create business decks, banners, logos, graphics and presentations for your social media, website or apps.
Canva operates what’s known as a freemium model, with some options you can use for free and others are available for a fee. It now has more than 1.5 million paying subscribers and more than 30 million monthly active users.
Last year, the company acquired free content sites Pexels and Pixabay, adding more than 1 million stock photos, vectors and illustrations on to its platform.
Canva recently released its biggest update to Canva Pro that will see users have access to millions premium images, thousands of videos along with a wide variety of audio tracks, and more than 3.5 million graphic elements. Read more below.