Canva, an Australian-headquartered startup, has raised another US$70 million to grow its graphic design platform. This round, which values the company at a massive US$2.5 billion, brings its total raised amount to US$166 million.
US-based venture capital firm, Bond Capital, participated in the round, along with existing investors Felicis Ventures and Blackbird Ventures. As such, Canva becomes Meeker’s first bond-specific portfolio company.
The startup plans to use the newly acquired funds to launch a product focused on more prominent clients and brands, Canva Enterprise, which has more features on top of what the platform currently can offer. This new platform will give businesses additional brand control and collaboration.
This news came only days after Canva acquired the free stock image providers, Pexels and Pixabay, rolling out a new subscription service for its premium image marketplace known as Photos Unlimited.