Canva has announced a new valuation of US$6 billion from US$3.2 billion, after having raised a US$60 million round.
The doubling in valuation is attributed to the company’s growing prominence as a workplace collaboration platform fueled by its strong performance in user growth, which continues to accelerate as the world shifts online amids the global pandemic.
Now embraced by over 30 million people every month to design around the globe, it does collaborations on presentations, marketing materials, social media content, videos and more – at a whopping 80 designs per second and a total over three billion designs created since launch.
“Canva’s accelerated growth is indicative of the new normal, as more teams realize the need for a more scalable, more collaborative, more affordable and more user-friendly design platform. Now more than ever, organizations of all sizes are doubling down on building a reliable remote workplace, and are turning to modern productivity platforms like Canva to ensure they remain flexible and scalable,” Canva cofounder and Chief Operating Officer Cliff Obrecht said.
As a key growth market for Canva, the company is investing in its US operations with the opening of an office in Austin, Texas.
The US team will provide strategic support for enterprise clients and nonprofits as the country navigates the “new normal” workplace together, kicking off with its inaugural online enterprise conference, Elevate 2020,” on July 29.
The conference will feature a keynote from Canva chief executive officer and cofounder, Melanie Perkins, as well as customer panels with HubSpot, Berkshire Hathaway Home Services and IDC Global, to name a few.
For the latest product news, visit https://www.canva.com/whats-new/