SYDNEY – Australian design platform completed its latest round of funding, raising $71 million led by T. Rowe Price and Dragoneer, which includes several previous investors, at a $15 billion valuation. Canva, which says it remains profitable, also announced that its business passed $500 million in annualized revenue, up 130% from the year before, and surpassed more than 55 million monthly active users.
With the new funding, cofounder/CEO Melanie Perkins, and cofounder/COO Cliff Obrecht, are now likely worth several billion. According to estimates by Forbes; Perkins and Obrecht, who married in January 2021, owned about 15% of Canva each prior to the investment.
According to Obrecht, the reason for this round of funding, which brought in a relatively small amount of cash for growth, was twofold: employee and investor liquidity, as well as funding for future acquisitions.
Launched in 2013, Canva is a free online visual communications platform with a mission to empower everyone in the world to design. Featuring a simple drag-and-drop user interface and a vast range of templates. Canva is available on desktop, web, iOS, and Android.