What are Canva’s plans after raising $60m?

Australian digital design company Canva has recently secured $60 U.S. million in a funding round led by Blackbird Ventures and Sequoia Capital China, doubling its valuation from $3.2 billion U.S. as of late last year to $6 billion U.S.. Canva plans to use the funding to further develop its enterprise products and support its expansion in the U.S. and other key markets, according to a report on TechAsia.

Founded in 2012, Canva lets users create designs for social media posts, logos, and presentations, among others. It also offers a business-oriented product called Canva for Enterprise.

The platform currently serves over 30 million people globally every month, with 80 designs per second or a total of over 3 billion designs created to date.

With its fresh funding, Canva is investing in its operations in the U.S., where it has recently opened a new office in Texas to provide strategic support for its enterprise clients. To further its international growth, the company will also look at potential acquisitions and investments, particularly in the media and editing spaces, TechAsia reported.

Canva is also also planning to roll out a bunch of new features this year or early next year, including:

  • A real-time collaboration tool that allows teams to work on designs simultaneously
  • Canva Brainstorms to let teams work together on notes, mood boards, and ideas
  • Canva Talking Presentations that will allow presenters to talk through their slides in an interactive format
  • Canva for Desktop that will offer offline editing and other features

“Ultimately, we want Canva to be the go-to platform for all your design needs, so we’ll continue to monitor and evaluate acquisition opportunities,” Canva co-founder and chief operating officer Cliff Obrecht told TechAsia.

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