Funding round
Canva Growth
Reported as "Growth Equity"
Canva, which works in visual content creation and publishing in Surry Hills, raised $200M in a Growth round announced on 14 Sep 2021, led by T. Rowe Price, at a $40.00B post-money valuation. 9 firms took part, 4 of them already investors. It is Canva's eighth venture round on record; the one before was a Growth in Apr 2021.
$200M
Amount raised
$40.00B
Post-money valuation
$39.80B pre-money
9
Investors
1 lead
2.7x
Step-up from the Growth
$15.00B in Apr 2021
under 1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Canva at $40.00B after the new money, 2.7 times the $15.00B of its Growth (Apr 2021). The $200M bought investors about under 1% of the company. It came 5 months after Canva's Growth. It is 37% of the $544M Canva has raised in the venture rounds on record. No later venture round is on record for Canva.
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 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 this round 14 Sep 2021, led by T. Rowe Price $200M$40.00B post-money
Investors
Who put money in
T. Rowe Price led the round with 8 other firms. Bessemer Venture Partners, Blackbird, Felicis and Airtree had backed Canva before.
Lead investor
- T. Rowe Price new investor
Also in the round
- Franklin Templeton new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
- Greenoaks backs 77 venture-backed companies new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- backs 101 venture-backed companies existing investor
- Felicis backs 237 venture-backed companies existing investor
- backs 69 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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
421 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 3.5 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dapper Labs Tech Companies | 22 Sep 2021 | $250M | $7.60B | Coatue |
| Tech Companies | 16 Sep 2021 | $230M | not disclosed | Polychain and Three Arrows Capital |
| Tech Companies | 14 Sep 2021 | $200M | $2.70B | Goldman Sachs Asset Management |
| Tech Companies | 28 Sep 2021 | $130M | not disclosed | Warburg Pincus |
| Saviynt Tech Companies | 20 Sep 2021 | $130M | not disclosed | HPS Investment Partners and PNC Bank |
| Tech Companies | 29 Sep 2021 | $100M | not disclosed | Morningside Group |
| Xpansiv Tech Companies | 23 Sep 2021 | $100M | not disclosed | not named |
| Tech Companies | 27 Sep 2021 | $75M | not disclosed | Summit Partners |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Canva raise in its Growth round?
Canva raised $200M in its Growth round, announced in Sep 2021.
Who led Canva's Growth round?
T. Rowe Price led it, with Franklin Templeton, Sequoia Capital, Bessemer Venture Partners, Greenoaks and Dragoneer Investment Group and 3 more.
What was Canva's valuation at the Growth round?
$40.00B post-money ($39.80B pre-money).
How does it compare with other Growth rounds in Tech Companies?
421 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 3.5 times the median.