Funding round
Canva Series E
Canva, which works in visual content creation and publishing in Surry Hills, raised $85M in a Series E round announced on 16 Oct 2019, led by BOND, at a $3.20B post-money valuation. 5 firms took part, 4 of them already investors. It is Canva's fifth venture round on record; the one before was a Growth in May 2019.
$85M
Amount raised
$3.20B
Post-money valuation
$3.12B pre-money
5
Investors
1 lead
1.3x
Step-up from the Growth
$2.50B in May 2019
2.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Canva at $3.20B after the new money, 1.3 times the $2.50B of its Growth (May 2019). The $85M bought investors about 2.7% of the company. It came 5 months after Canva's Growth. It is 16% of the $544M Canva has raised in the venture rounds on record. Canva raised again 8 months later: a Growth round of $60M in Jun 2020, at $6.00B 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 this round 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
BOND led the round with 4 other firms. BOND, General Catalyst, HSG and Blackbird had backed Canva before.
Lead investor
- BOND backs 91 venture-backed companies existing investor
Also in the round
- General Catalyst backs 574 venture-backed companies existing investor
- HSG backs 118 venture-backed companies existing investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- backs 101 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
42 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $92M, and this round was close to the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Oct 2019 | $100M | $1.00B | Sapphire Ventures |
| DataRobot Tech Companies | 17 Sep 2019 | $206M | not disclosed | Sapphire Ventures |
| ThoughtSpot Tech Companies | 28 Aug 2019 | $248M | $1.95B | Silver Lake |
| Tech Companies | 6 Aug 2019 | $200M | not disclosed | SoftBank |
| Tech Companies | 4 Dec 2019 | $60M | $500M | Coatue |
| Icertis Tech Companies | 17 Jul 2019 | $115M | $1.00B | Greycroft and Premji Invest |
| Sysdig Tech Companies | 22 Jan 2020 | $70M | not disclosed | Insight Partners |
| Tech Companies | 1 Jan 2020 | $11M | not disclosed | not named |
Questions
Frequently asked
How much did Canva raise in its Series E round?
Canva raised $85M in its Series E round, announced in Oct 2019.
Who led Canva's Series E round?
BOND led it, with General Catalyst, HSG, Bessemer Venture Partners and Blackbird.
What was Canva's valuation at the Series E round?
$3.20B post-money ($3.12B pre-money).
How does it compare with other Series E rounds in Tech Companies?
42 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $92M, and this round was close to the median.
Did Canva raise again after this round?
Yes: a Growth round in Jun 2020 of $60M at $6.00B post-money.