Canva has raised its value to $42 billion through the sale of new shares. The sale attracted strong interest from both existing investors and new investors, including JPMorgan Asset Management.
Founded in 2013 in Sydney, Canva is known for its cloud-based design platform, widely used for creating presentations in schools and large companies. The company has received backing from leading Australian investment funds such as Blackbird, Square Peg, and Airtree.
This latest sale surpasses the $32 billion valuation from last October. Canva’s competitor, Figma, recently went public in the U.S., bringing Canva’s potential IPO plans back into the spotlight.
According to data shared by Canva in June, the platform has 240 million active users per month and generates $3.3 billion in annual revenue. By comparison, Figma earned $749 million last year and had 13 million monthly active users in the first quarter of this year.
Although Canva has not officially confirmed its IPO plans, its listing on Nasdaq has long been anticipated. Recently, Canva has expanded its presence in the U.S. market and added Kelly Steckelberg, former CFO of Zoom, to its team last year.
Cliff Obrecht, Canva’s co-founder and Chief Operating Officer, said:
“The strong interest from both existing and new investors is a clear indicator of our company’s momentum and the confidence in our future growth potential.”
