Australian design software company Canva has announced today that it has secured a $US15 billion valuation after the pandemic boosted interest in its design software tools.
Following a $US71 million investment led by T. Rowe Price and Dragoneer, the latest valuation sets the company apart as Canva claims it is one of the fastest growing software companies in history.
According to Alan Tu, Portfolio Manager of T. Rowe Price Global Technology Fund, “The company’s strong customer loyalty and consistent innovation has led to healthy growth, and we believe that they have the leadership team in place to continue on their path to becoming a much larger company in the future.”
Canva also announced today a number of added features to its collaborative workplace product, Canva Presentations. With rapid growth in the reliance on digital platforms to service the needs of remote workforces, Presentations has become the platform’s most popular service. The company claims that 85 per cent of Fortune 500 companies have embraced Canva, as demand has surged for collaborative and visual communications platforms.
According to Melanie Perkins, Canva co-founder and CEO, “Now more than ever, teams and workplaces around the world need scalable, collaborative and easy-to-use visual communication products to empower them to achieve their goals.
“The launch of Presentations gives workplaces of all sizes a unique, flexible collaboration product that makes work feel like play.”
Canva Presentation’s suite of new features includes templates and tools for live video presentations, Q&A, presenting via mobile, charts and infographics. Brands including the likes of American Airlines, McKinsey and Salesforce have adopted Canva technologies as the company surpasses 55 million monthly active users.
“Canva’s growth is a testament to the company’s deep insight into the creative and communication needs of an ever-evolving workplace and its outstanding execution in delivering tools that help teams collaborate and present more effectively,” said Christian Jensen, Partner at Dragoneer.
“It’s incredible to see what this nimble and passionate company from Sydney’s emerging tech hub has been able to achieve in such a short period of time.”