• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Canva Raises $200 Million At A $40 Billion Valuation

Ibhadojemu Sunday by Ibhadojemu Sunday
September 15, 2021
in Uncategorised
Share on FacebookShare on Twitter

Following a fresh $200 million funding, online graphic design company, Canva, is now valued at $40 billion, making it one of the world’s biggest privately-owned companies. The funding round was led by T. Rowe Price and saw the participation of new and existing investors, including Franklin Templeton, Sequoia Capital Global, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis, and AirTree Ventures.

According to business data provider CB Insights, Canva’s $40 billion valuation makes it the fifth-most valuable start-up in the world, behind TikTok’s parent company ByteDance, payment platform Stripe, Elon Musk’s rocket company SpaceX and Swedish financial technology firm Klarna.

On Wednesday, Canva announced that it intended to give about 30 percent of the company’s wealth away to charitable causes. The firm said that it had grown its customer base to over 60 million users in 190 countries and that it was on its way to realizing $1 billion in revenue by the end of the year. It also said that it had 500,000 paying customers, including corporate clients like Zoom, Salesforce, Paypal, Marriott International, and American Airlines, which the firm said had all increased their use of Canva’s design technology in the past year.

Talking about the number of companies taking up its software, Canva, in a press release, said that “from large enterprises to small businesses, the shift to distributed working has seen team adoption more than quadrupled over the last 12 months”.

Co-founder and CEO Melanie Perkins and her team started working on Canva in 2012 and launched the product in 2013. Simply put, Canva allows anyone to design anything for free, including greetings cards, resumes, posters, etc; a technique that has proved incredibly fruitful for the company. Although Canva launched as a free product, it has, over time, introduced features that users have to pay for.

With the newly raised capital, Canva plans to double its workforce in the next year. This year alone, the company has doubled its workforce, hiring more than 1,000 new employees.

In addition to increasing its workforce, the company has intentions to further expand the product by launching website design next year. This will allow users to turn existing and new presentations and designs into a website, and even search for and buy a domain for that site. Canva is also working on a new video editor and an offline mode.

Related Posts:

  • 1688385382185
    39 US AI firms raised $100M+ in 2024: Full list
  • African-Startups
    African Startups That Have Raised Money This Year
  • Edtech Giant Byju’s Raises New Funding Of $250 Million
    Edtech Giant Byju’s Raises New Funding Of $250 Million
  • Illustration shows SpaceX logo and Elon Musk photo
    Elon Musk's SpaceX Is Raising $750 Million In A New…
  • brain-on-no-sleep
    Payment Startup SumUp Gets $624 Million In Funding…
  • Fintech Startup Slice Raises $50 Million Series C At A New Valuation Of $1.5 Billion
    Fintech Startup Slice Raises $50 Million Series C At…
  • 7openai-funding-pqjk-videoSixteenByNine3000
    OpenAI has Closed a $40b Funding Round, Now Valued at $300B
  • Maplerad, A Nigerian Banking-as-a-service Startup, Secures Seed Funding Of $6 Million In  A Round Led By Valar Ventures
    Maplerad, A Nigerian Banking-as-a-service Startup,…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Sunday

Ibhadojemu Sunday

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Truecaller Filters Verified Business Messages May 12, 2025
    • ChatGPT Deep Research Now Links to GitHub Repos May 12, 2025
    • Microsoft Offers Guide to Fix Windows Blue Screen Errors May 12, 2025
    • We’ve Invested $10b in Nigeria so Far – MTN May 12, 2025
    • Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3 May 11, 2025
    • Google’s Antitrust Showdown, AI vs. Search, and other Headlines May 11, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (498) android (367) app (717) Apple (577) artificial intelligence (419) business (482) china (132) cryptocurrency (210) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (710) government (469) instagram (173) internet (467) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (836) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Truecaller Filters Verified Business Messages

    Truecaller Filters Verified Business Messages

    May 12, 2025
    ChatGPT Deep Research Now Links to GitHub Repos

    ChatGPT Deep Research Now Links to GitHub Repos

    May 12, 2025
    Microsoft Offers Guide to Fix Windows Blue Screen Errors

    Microsoft Offers Guide to Fix Windows Blue Screen Errors

    May 12, 2025
    The NCC Commissioned MTNN To Lease Spectrums From NTEL And Renew Its 3G Spectrum

    We’ve Invested $10b in Nigeria so Far – MTN

    May 12, 2025
    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3

    May 11, 2025
    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    May 11, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok