Sunday, January 21, 2018

Canva - another Ozzie Unicorn

Canva, a startup which offers pre-made templates and modern stock art, raised a $40 million Series C. Its last raise, a $15 million Series B, was announced well over a year ago. In total, the startup has raised nearly $83 million, according to Crunchbase. The latest round values the company at $1 billion - another Aussie Unicorn 

 According to Fast Company, “more than 13 designs are created every minute.” This is likely an important metric. The startup makes money based on how many assets are used in each graphic, with each asset typically costing $1. The design platform startup also launched “Canva for Work,” a subscription service that offers team collaboration and increased access to templates.

Canva has attracted high-profile Guy Kawasaki, known for his evangelist work at Apple and his status as a seed investor during the Web 2.0 boom. Canva has also attracted celebrities as investors, including Woody Harrelson and Owen Wilson, both of whom participated in the company’s Series A round.

In its latest round, Canva has added Sequoia Capital to its roster as a lead investor. And a handful of other investors have followed the company through its raises, such as Australia-based Blackbird VenturesFelicis Ventures, and Matrix Partners.

Canvas plans  to use this to expand its global footprint and accelerate growth.

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