US Investors Go For Aussie Canva
Silicon Valley investor Mary Meeker has chosen Australian online design platform Canva for the first investment by her new venture capital firm.
Meeker is one of Silicon Valley’s top venture capitalists whose Internet Trends Report can make or break technology start-ups.
Her Bond Capital along with General Catalyst have jointly sunk US$70 million (A$101 million) into a funding round for Sydney-based Canva and more than doubles its valuation to US$2.5 billion.
The financing was also backed by existing investor outfits Felicis Ventures and Blackbird Capital.
Bond Capital has raised $1.25 billion for VC investments in Meeker’s first fund since parting ways with Kleiner Perkins in September after eight years as a partner.
Canva, which has apps that help advertisers and companies create banners, logos and presentations, turned profitable in 2017 and has more than 500,000 paying subscribers, including Yelp and Hubspot. Last year, the company raised $40 million at a valuation of $1 billion.