When Did Canva Become a Unicorn?

Canva, the online design platform, is a unicorn company. A unicorn company is a private startup that has achieved a valuation of above $1 billion.

Canva’s valuation recently crossed the $2 billion mark. The Australian-based company started in 2012 by co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams.

Canva was established as an online design platform where users could create and edit graphic designs with professionally designed templates and images. It quickly rose to popularity due to its ease of use and range of features, such as its drag-and-drop interface, unlimited stock images and fonts, and professional editing tools. Canva also offered collaboration features that enabled users to work together on projects at the same time using the platform.

In 2016, Canva secured $15 million in Series A funding from investors including Blackbird Ventures and Matrix Partners. This funding was used to pursue product development and international expansion into new markets. By 2018, Canva had become well established in many countries across Europe, North America, Asia Pacific and South America.

The company continued to grow rapidly with more than 18 million users worldwide across 180 countries by 2019. It secured Series D funding of $85 million from investors including General Catalyst Partners and Bond Capital in 2019 which helped accelerate its growth further by providing more resources for product development and international expansion into new markets around the world.

By 2020, Canva had become one of the world’s leading online design platforms with over 50 million users worldwide across 190 countries. This rapid growth led to a valuation of more than $2 billion by 2021 which made it a unicorn company – one of Australia’s first technology unicorns.

When Did Canva Become a Unicorn?
Canva officially became a unicorn company in 2021 when its valuation surpassed $1 billion USD marking it as Australia’s first technology unicorn startup. With this milestone achieved, Canva looks set to continue its rapid growth trajectory over the coming years as it continues to expand its presence around the world and develop innovative products for customers everywhere.