Canva, an Australian start-up that provides graphic design software, has become the most valuable private technology company in the country following its most recent round of funding.
In its latest funding round, Canva raised $87.2 million, valuing the company at $8.7 billion. This nearly doubles last year’s valuation of $4.6 billion.
Canva provides graphic design software that makes it easier for users to create design presentations, social media graphics, and layouts. While it is free to use, users must have a paid subscription to access Canva’s full range of functions.
Canva now has 1.5 million paying subscribers and 30 million users that are active every month. Since its launch in 2012, more than
In light of remote working during the COVID-19 pandemic, has added a collaborating function, allowing multiple to work on the same project in real time. “It kind of replaces everyone standing around a whiteboard and putting sticky notes to come up with an idea,” Cliff Obrecht, Co-Found and COO at Canva, told Bloomberg. “We’ve done a digital version of that. The simultaneous collaboration feature is taking off.”
