Canva, an Australian-headquartered business, has raised another $70 million to expand its graphic design platform. The round, which values the company at a massive $2.5 billion, brings its total raised to $166 million.
General Catalyst and Bond, Mary Meeker’s debut venture capital fund, have participated in the funding alongside existing backers Felicis Ventures and Blackbird Capital. Canva becomes Meeker’s first Bond-specific portfolio company.
“The Canva team are building their platform around three trends – content, community and commerce – that we’ve been observing in some of the world’s fastest growing companies,” Meeker, an investor in Slack, Airbnb and more, said in a statement. “With its global user base of more than 15 million monthly active users, Canva is a clear leader providing a platform that empowers users to create compelling, data-rich visuals and gain design fluency through collaboration and feedback.”
The news comes mere days after the provider of design and publishing tools acquired the free stock image providers Pexels and Pixabay and launched a new subscription service for its premium image marketplace, Photos Unlimited. The new capital, however, will be used to fuel another new product, Canva Enterprise, which is tailored for larger brands and businesses seeking additional brand control and collaboration.
Founded in 2013, Canva counts 15 million users in 190 countries.
“We’ll be using this new funding to further cement Canva as the default tool in every workplace,” Canva co-founder and chief executive officer Melanie Perkins said in a statement. “We’ve seen incredible uptake from millions of people all around the world, with organizations of all sizes, from small businesses to Fortune 500s, using Canva every day.”