Funding round
Canva Growth
Reported as "Growth Equity"
Canva, which works in visual content creation and publishing in Surry Hills, raised $60M in a Growth round announced on 22 Jun 2020, led by Blackbird and HSG, at a $6.00B post-money valuation. 5 firms took part, 4 of them already investors. It is Canva's sixth venture round on record; the one before was a Series E in Oct 2019.
$60M
Amount raised
$6.00B
Post-money valuation
$5.94B pre-money
5
Investors
2 leads
1.9x
Step-up from the Series E
$3.20B in Oct 2019
1.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Canva at $6.00B after the new money, 1.9 times the $3.20B of its Series E (Oct 2019). The $60M bought investors about 1.0% of the company. It came 8 months after Canva's Series E. It is 11% of the $544M Canva has raised in the venture rounds on record. Canva raised again 10 months later: a Growth round of $71M in Apr 2021, at $15.00B 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 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 this round 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
Blackbird and HSG led the round with 3 other firms. Blackbird, BOND, General Catalyst and Felicis had backed Canva before.
Lead investors
- backs 101 venture-backed companies existing investor
- HSG backs 118 venture-backed companies new investor
Also in the round
- BOND backs 91 venture-backed companies existing investor
- General Catalyst backs 574 venture-backed companies existing investor
- Felicis backs 237 venture-backed companies existing investor
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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
281 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 1.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 26 Jun 2020 | $88M | not disclosed | not named |
| Tech Companies | 9 Jun 2020 | $49M | not disclosed | Silversmith Capital Partners |
| Tech Companies | 29 Jun 2020 | $48M | not disclosed | KKR |
| Tech Companies | 29 Jun 2020 | $35M | not disclosed | FTV Management Company |
| Tech Companies | 18 Jun 2020 | $33M | not disclosed | not named |
| Tech Companies | 10 Jun 2020 | $30M | not disclosed | Francisco Partners |
| Tech Companies | 10 Jun 2020 | $28M | $1.40B | not named |
| RapidSOS Tech Companies | 10 Jun 2020 | $21M | not disclosed | Transformation Capital |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Canva raise in its Growth round?
Canva raised $60M in its Growth round, announced in Jun 2020.
Who led Canva's Growth round?
Blackbird and HSG led it, with BOND, General Catalyst and Felicis.
What was Canva's valuation at the Growth round?
$6.00B post-money ($5.94B pre-money).
How does it compare with other Growth rounds in Tech Companies?
281 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 1.3 times the median.
Did Canva raise again after this round?
Yes: a Growth round in Apr 2021 of $71M at $15.00B post-money.