Canva, an Australian design software company, led by T. Rowe Price raised $200 million at a valuation of $40 billion.
why it matters: This makes Canva the fifth most valuable private startup in the world, behind Klarna and ahead of Instacart. It also differs in being profitable, led by a female CEO and based in Sydney.
- Other investors include Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenox Capital, Dragoneer Investments, Blackbird, Felicis and Airtree Ventures.
Bottom-line: “Originally known as a tool for amateur designers or small businesses, Canva’s freemium software is used by more than 60 million monthly users. But more than 500,000 paying teams now use Canva. including companies such as American Airlines, CBRE, Intel, Kimberly Clark and Zoom, ranging from social media assets to sales and human resource presentations, or in the case of Live Nation, to assets for upcoming rock concerts.” Forbes writes.