Canva, a visual communications platform, has announced an updated valuation of USD 15 billion following a USD 71 million investment.
“This latest valuation affirms Canva as one of the fastest-growing software companies in history, surpassing $500 million annualized revenue this year. The company also formally announced a suite of new features for its flagship workplace product, Canva Presentations, which empowers teams around the world to design with ease and collaborate at scale,” the company said in a statement.
“Now more than ever, teams and workplaces around the world need scalable, collaborative and easy-to-use visual communication products to empower them to achieve their goals,” explained Canva co-founder and CEO, Melanie Perkins. “The launch of Presentations gives workplaces of all sizes a unique, flexible collaboration product that makes work feel like play. I’m incredibly proud of our rapidly growing global team as we work together to empower the world to design.”
Canva’s surge in valuation is a direct result of the rapidly growing adoption from teams and workplaces across the globe as the company surpasses more than 55 million monthly active users and achieves a 130% year-over-year increase in annualized revenue while remaining profitable, the statement added.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.