Funding round
Canva Growth
Reported as "Growth Equity"
Canva, which works in visual content creation and publishing in Surry Hills, raised $70M in a Growth round announced on 20 May 2019, led by General Catalyst and BOND, at a $2.50B post-money valuation. 4 firms took part, 2 of them already investors. It is Canva's fourth venture round on record; the one before was a Growth in Jan 2018.
$70M
Amount raised
$2.50B
Post-money valuation
$2.43B pre-money
4
Investors
2 leads
2.5x
Step-up from the Growth
$1.00B in Jan 2018
2.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Canva at $2.50B after the new money, 2.5 times the $1.00B of its Growth (Jan 2018). The $70M bought investors about 2.8% of the company. It came 16 months after Canva's Growth. It is 13% of the $544M Canva has raised in the venture rounds on record. Canva raised again 5 months later: a Series E round of $85M in Oct 2019, at $3.20B 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 9 Jan 2018 $40M$1.00B post-money
- Growth this round 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
General Catalyst and BOND led the round with 2 other firms. Felicis and Blackbird Capital had backed Canva before.
Lead investors
- General Catalyst backs 574 venture-backed companies new investor
- BOND backs 91 venture-backed companies new investor
Also in the round
- Felicis backs 237 venture-backed companies existing investor
- Blackbird Capital existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
233 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 1.6 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Kaseya Tech Companies | 3 May 2019 | $500M | $1.75B | TPG and Insight Partners |
| Tech Companies | 15 May 2019 | $78M | not disclosed | Silversmith Capital Partners and Leerink Transformation Partners |
| Tech Companies | 16 May 2019 | $73M | not disclosed | Great Hill Partners |
| Tech Companies | 16 May 2019 | $73M | not disclosed | Great Hill Partners |
| Tech Companies | 17 May 2019 | $56M | not disclosed | Sumeru Equity Partners |
| Tech Companies | 23 May 2019 | $50M | $231M | General Atlantic |
| Tech Companies | 13 May 2019 | $34M | not disclosed | not named |
| Tech Companies | 21 May 2019 | $23M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Canva raise in its Growth round?
Canva raised $70M in its Growth round, announced in May 2019.
Who led Canva's Growth round?
General Catalyst and BOND led it, with Felicis and Blackbird Capital.
What was Canva's valuation at the Growth round?
$2.50B post-money ($2.43B pre-money).
How does it compare with other Growth rounds in Tech Companies?
233 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 1.6 times the median.
Did Canva raise again after this round?
Yes: a Series E round in Oct 2019 of $85M at $3.20B post-money.