Canva’s valuation doubles (again) to $20B
Well-known Perth-founded design software company, Canva, has today announced a revised valuation that values the company at an eye-watering $20 billion (US$15 billion). This valuation increase follows a $93 million (US$71 million) investment round with funds from existing backers Blackbird Ventures and Skip Capital along with US investment firms T.Rowe Price and Dragoneer. This valuation more than doubles the US$6 billion valuation Canva had back in June 2020. To emphasise how much Canva has grown in recent times, that June 2020 valuation was itself a doubling of the previous valuation received in October 2019. Alan Tu, Portfolio Manager of T. Rowe Price Global Technology Fund, said he was pleased to be supporting Canva as it seeks to ‘democratize’ visual communication.