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Miguel Cordon · · 1 min readCanva turns into a decacorn after its latest fundraise
“Australia’s Canva said its valuation hit US$15 billion following a US$71 million investment, making the provider of design-collaboration tools one of the fastest-growing software startups in the world,” Bloomberg reported.
Details:
- Canva’s latest round was joined by new backers Dragoneer Investment Group and T Rowe Price Global Technology Fund, as well as existing investors Blackbird Ventures and Skip Capital.
- The investment has raised Canva’s valuation, which hit US$6 billion after it had secured US$60 million in a round led by Sequoia China and Blackbird in June last year.
Context:
- The startup claims it was able to log over US$500 million in annualized revenue this year while maintaining its profitability.
- It also says it has over 55 million monthly active users, jumping from 30 million around the same time last year.
Editing by September Grace Mahino and Collin Furtado
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