Canva has added US$10 billion to its valuation, reaching US$42 billion, after completing an oversubscribed employee tender offer and securing JP Morgan Asset Management as a new investor.
The visual communications company said the offer followed “strong demand from new and existing investors” and was led by Fidelity Management & Research Company, an existing shareholder.
Co-founder and chief operating officer Cliff Obrecht said Canva had grown into “one of the most widely used platforms on the internet, with more than 240 million designing with Canva each month”.
“This round has been significantly oversubscribed, which is a huge testament to the incredible work of our team and the impact Canva is having around the world,” Obrecht said. “The overwhelming demand from both new and existing investors is a huge vote of confidence in our momentum and the scale of what still lies ahead. We really do believe we’re just 1 per cent of the way there, and that the best is yet to come.”
Canva last ran an oversubscribed staff share sale in April 2024, which created a wave of employee millionaires.
Obrecht said the company now generates US$3.3 billion in annualised revenue, counts 27 million paid seats, holds strong cash reserves and has been profitable for the past eight years.