Funding round
Canva Growth
Reported as "Growth Equity"
Canva, which works in visual content creation and publishing in Surry Hills, raised $40M in a Growth round announced on 9 Jan 2018, at a $1.00B post-money valuation. 3 firms took part. It is Canva's third venture round on record; the one before was a Series A in Oct 2015.
$40M
Amount raised
$1.00B
Post-money valuation
$960M pre-money
3
Investors
no lead named
6.1x
Step-up from the Series A
$165M in Oct 2015
4.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Canva at $1.00B after the new money, 6.1 times the $165M of its Series A (Oct 2015). The $40M bought investors about 4.0% of the company. It came 27 months after Canva's Series A. It is 7.4% of the $544M Canva has raised in the venture rounds on record. Canva raised again 16 months later: a Growth round of $70M in May 2019, at $2.50B post-money.
Canva's funding rounds
Canva has 8 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 20 Mar 2013 $3.0M
- Other not a venture round 21 Jul 2014 $3.6M
- Other not a venture round 4 May 2015 $6.0M
- Series A 6 Oct 2015, led by Felicis $15M$165M post-money
- Growth this round 9 Jan 2018 $40M$1.00B post-money
- Growth 20 May 2019, led by General Catalyst and BOND $70M$2.50B post-money
- Series E 16 Oct 2019, led by BOND $85M$3.20B post-money
- Growth 22 Jun 2020, led by Blackbird and HSG $60M$6.00B post-money
- Growth 6 Apr 2021, led by T Rowe Price and Dragoneer Investment Group $71M$15.00B post-money
- Growth 14 Sep 2021, led by T. Rowe Price $200M$40.00B post-money
Investors
Who put money in
3 firms took part; no lead investor was named.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
163 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was close to the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jan 2018 | $147M | not disclosed | Dragoneer Investment Group |
| Tech Companies | 22 Jan 2018 | $65M | not disclosed | not named |
| Tech Companies | 3 Jan 2018 | $36M | not disclosed | Claridge Israel |
| Tech Companies | 31 Jan 2018 | $13M | not disclosed | SPDG |
| Tech Companies | 23 Jan 2018 | $7.0M | not disclosed | not named |
| Tech Companies | 22 Feb 2018 | $50M | not disclosed | not named |
| Tech Companies | 20 Feb 2018 | $41M | not disclosed | EQT Ventures |
| Tech Companies | 20 Feb 2018 | $37M | not disclosed | M12 |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Canva raise in its Growth round?
Canva raised $40M in its Growth round, announced in Jan 2018.
Which investors took part in Canva's Growth round?
HSG, Blackbird and Felicis.
What was Canva's valuation at the Growth round?
$1.00B post-money ($960M pre-money).
How does it compare with other Growth rounds in Tech Companies?
163 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was close to the median.
Did Canva raise again after this round?
Yes: a Growth round in May 2019 of $70M at $2.50B post-money.