When you get to the scale of Australian tech tech giant Canva, raising money from Venture Capital and Private Equity will never seem to stop. At least, it is what is happening with Canva.
Although in its most recent fund raising round, it raised US $71 million announced in April.
Valuation Of The Business
However the graphic design company has once again raised the alarm that it will go for another fund raising round. The valuation is expected to soar.
It is believed that the recent round could boost the business to a valuation as high as $ US30 billion, which will be double the $ US15 billion valuation it acquired in the past three months.
While growth seems to be rapid, it is a well-discovered and walked on route for this startup business by Melanie Perken.
Investors
By the end of 2019 the company was estimated to be worth $US3.2 billion. By mid-2020 its value had risen to $ US6 billion and in April 2021 it acquired funding from investors including Blackbird Ventures, Scott Farquhar and Kim Jackson’s Skip Capital, T Rowe Price and Dragoneer for an estimated $ US15 billion valuation.
After investing in all of Canva’s fund raising rounds so far, it would be really surprising if Blackbird is not involved in this latest round as well.
Net-Worth Of The Co-Founders
The US71 million fund raising round is one of the largest of the year for a local technology company to date, coming after the Octopus Deploy’s giant $ US172.5 million collection and SafetyCulture’s $ 99 million round.
If it is true that Canva will fetch a $ US30 billion valuation after the upcoming round, the net-worth of co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams will rise, prompting them to rank higher on Australia’s richest list.
Perkins and Obrecht came in 10th place on this year’s Rich List, with $ 7.98 billion, which puts them next to Frank Lowy at $ 8.51 billion.
While still a Sydney-based private company, Canva has exceeded $ 500 million in annual revenue.
