Sydney based Canva raises $21m at a $165m val

Graphic design startup Canva (Founded in Sydney) has raised $US15 million ($21 million) in series A funding, just two months after launching its subscription product Canva for Work.

 

The round was led by Silicon Valley-based Felicis Ventures and values the startup at $US165 million. Felicis were joined by existing investors Blackbird Ventures, Matrix Partners and Vayner Capital. Actors Owen Wilson and Woody Harrelson also participated in the round.

 

This latest raise, follows a $US6 million raise in May and brings the startup’s total funding to almost $US30 million.

 

It’s the second time this year Felicis has led an Australian startup’s series A round. The firm also led Melbourne-founded culture analytics startup Culture Amp’s $US6.3 million raise in March.

 

“We weren’t actually intending on raising money,” Canva CEO and co-founder Melanie Perkins says.

 

Since its launch in 2013 , it has more than 5 million users, 42% of which are based in the United States. Importantly 35,000 teams have signed up to use Canva for Work – a subscription based service that charges $10 per user, per month. That 35,000 figure includes anything from individual businesses owners to teams of over 100 people.

Posted on October 7, 2015