Canva valuation hits new $6 billion high after closing $60 million funding round

Australia's tech unicorn Canva has announced it has hit a new valuation of $6 billion, after closing off a $60 million funding round.

The latest valuation is nearly double the amount of when Canva achieved a private valuation of $3.2 billion in October last year.

This latest funding was led by Blackbird and Sequoia Capital China, with participation from Bond, Felicis, and General Catalyst.

Canva co-founder and COO Cliff Obrecht said despite an economic downturn due to the COVID-19 pandemic, the company has continued to experience user growth.

"Canva's accelerated growth is indicative of the 'new normal', as more teams realise the need for a more scalable, more collaborative, more affordable, and more user-friendly design platform," he said.

"Now more than ever, organisations of all sizes are doubling down on building a reliable remote workplace, and are turning to modern productivity platforms like Canva to ensure they remain flexible and scalable."

Canva also announced it is expanding its presence in the US with the opening of an office in Austin, Texas. The tech unicorn added that it is considering acquisitions as part of further growth plans. 

"We're open to investment opportunities in the media and editing space as we continue on our mission to provide a comprehensive and valuable product ... so we'll continue to monitor and evaluate acquisition opportunities," Obrecht said.

Alongside these announcements, the tech unicorn has launched a suite of products, including a desktop app to enable offline editing; real-time collaboration and brainstorming so teams can simultaneously add notes and build moodboards; and talking presentations to allow presenters to talk through slides in an interactive format.  

Since launching in 2013, Canva has amassed over 30 million users across 190 countries. 

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