Canva secures US$3.6M in second round of funding
The monies have come from existing investors Matrix Partners, Blackbird Ventures, Square Peg Capital and new investors Shasta Ventures, Founders FundBy Terence Ng 22 Jul, 2014
Canva, an Australia-based online graphic design platform, announced it has raised US$3.6 million in its second round of funding from existing investors Matrix Partners, Blackbird Ventures, Square Peg Capital and new investors Shasta Ventures and Founders Fund.
The startup had raised US$3 million in seed funding early last year.
In addition, Canva has also introduced a new plugin, the ‘Canva Button’ that lets users of websites create their own graphics. This makes the creation of presentations, posters, blog images, and even social media memes easier, paving the way for more user-generated content.
CEO Melanie Perkins noted that in general, most web users lack the tools for web graphic design. “Every site that allows users to upload content, whether it’s a web app, e-commerce provider or ad network, wants its users to have beautiful graphics,” she said, “However, it’s almost impossible to create something that looks good without knowing how to use professional design tools.”
“Instead of just offering an ‘Upload’ button and expecting users to figure out the rest, the Canva Button enables a website’s users to easily create graphics without leaving their page,” she added, “We want this to be accessible to everyone so the button is free and can be implemented with just a few lines of code.”
Having grown to 600,000 users, who have created more than 3.5 million designs, Canva has also partnered with companies including GoDaddy, Tailwind, Agora Pulse, Post Planner, and TabSite. At each of these sites, users will be able to create graphics via the on-page Canva Button, which will be rolled out over the coming weeks.
Square Peg Capital Co-founder Paul Bassat shared that Canva’s growth has merited additional investment. “Canva provides users with a unique combination of wonderful simplicity and powerful design capability. Huge number of individuals and businesses have already had the opportunity to experience Canva’s unique offering. The team has made remarkable progress in delivering on that vision since Canva’s launch in 2013, and we are excited to have the opportunity to make a further investment in their current round,” he said.