Canva, an Australian design software company, raised $200 million at a $40 billion valuation led by T. Rowe Price.
Why it matters: This makes Canva the world’s fifth most valuable private startup, behind Klarna and ahead of Instacart. It also stands apart by being profitable, led by a woman CEO and based in Sydney.
- Other investors include Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures.
The bottom line: “Originally known as a tool for amateur designers or small businesses, Canva’s freemium software is used by more than 60 million monthly users. But more than 500,000 paying teams now use Canva, too, including companies like American Airlines, CBRE, Intel, Kimberly-Clark and Zoom, for everything from social media assets to sales and human resources presentations, or, in the case of Live Nation, assets for upcoming rock concerts,” Forbes writes.