Graphic Design Platform Canva Raises $15 Million Series A at $165 Million Valuation
Australia-based online graphic design platform Canva has secured an amount of $15 million in its Series A round at a $165 million valuation. The investment was led by US-based venture capital firm Felicis Ventures. Its existing investors Blackbird Ventures, Matrix Partners, and Vayner Capital also participated in the round, along with Hollywood actors Owen Wilson and Woody Harrelson.
Launched in 2013, by Cameron Adams, Cliff Obrecht, and Melanie Perkins, the graphic design platform provides users a variety of ready made templates, graphics, fonts, and photos. Many of the features on the site are for free whereas other features can be bought for $1 for a one time use. This fee helps generate revenue for the designer and the company.
The tools are available for both private and corporate users. For private users it is for free and for corporate users they have launched an additional product called Canva for Work which is available for a monthly charge of $9.95 per user, as reported by TechCrunch.
Raised amount will be used for expansion of company’s services worldwide and for recruiting talent.
The features in Canva for Work include ability to save templates for a particular brand, resize designs to fit different media, and organize assets into team folders for easier collaboration. Presently, the feature is being used by companies like Yelp, Lonely Planet, Huffington Post, Upworthy, etc.
Melanie Perkins, company’s co-founder said, “We now have five million users who have created 35 million designs. It’s pretty crazy that more than two designs are now created every second. In our last month alone, our five million users have created 5.7 million designs. In addition, our users have written 14,560 blog posts and created 19,500 YouTube videos about Canva.”
Security Startup Code42 Raises $85M Series B Funding
Minneapolis-based security startup Code42 has raised an amount of $85 in its Series B round of funding led by JMI Equity and New Enterprise Associates, Inc. (NEA). Its existing investors Accel and Split Rock Partners also participated in the round.
With the latest round of funding, the company will be developing more functionality around data analysis. With its new product the company will be able to provide an interface that would allow a company’s legal department to easily access data for an employee who’s been put on legal hold. With this investment the total funding raised by the company amounts to $137.5 million over the two rounds, as reported by TechCrunch.
Code42’s Crashplan is an easy to use tool to for backing up the information. The tool is platform agnostic, so it backs up even Macs and Linux machines and it backs up to the cloud. Therefore, the user can recover from anywhere, even on a new machine. Some of its customers include Intuit, Adobe, Stanford University, Lockheed Martin and Mayo Clinic.