Canva Vaults to $40 Billion Value as Online Collaboration Surges
- Earlier valued at $15 billion, Canva now has 60 million users
- Australian company is now fifth most valuable startup globally
Canva co-founders Cameron Adams, Cliff Obrecht and Melanie Perkins.
Source: Canva Inc.This article is for subscribers only.
Canva Inc.’s valuation hit $40 billion after the Australian design-collaboration platform raised $200 million in fresh capital, making it one of the world’s most valuable private software companies.
T. Rowe Price Group Inc. led the funding round, which included participation by Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners and Greenoaks Capital, Canva said in a statement on Wednesday. Other backers in the round included Dragoneer Investment Group, Blackbird, Felicis and AirTree Ventures.