After raising an additional $85M in capital, Canva, the Australian-based design tool platform, has increased its valuation to $3.2bn, up 28% in 5 months. Accessible to the masses, Canva leverages an easy-to-use interface and toolkit to make professional marketing collateral and social media material readily available to anyone, regardless of design skills or coding ability.
At $12.95 a month, Canva Pro seems reasonably priced to continue market expansion; however, we were curious to understand whether other startups or private companies were operating in a similar industry or with similar business models. Using Cyndx Finder, we mapped the competitive landscape for Canva, understanding what other companies offer similar solutions to Canva, as well as the leading investors in this industry.
Looking at the competitive landscape, over 497 companies surfaced from Cyndx Finder’s semantic mapping of Canva. The three most similar companies in terms of business model, PixTeller, Piktochart, and Snappa, are all private companies and leverage graphic design and animation tools for non-designers.
Pixteller, founded in 2013, is a Romanian-based design and animation tool platform. The platform allows users to create images, gifs, and videos from scratch or through templates provided. The company is private, with fewer than 10 employees and no publicised funding information.
Piktochart, founded in 2011, is a Malaysian-based application that allows non-designers to create infographics and visuals to better engage their audience and clients. The web app enhances work with images, interactive charts, and animations. The company is still privately held and has raised $150k in seed funding from SOSV and Chinaccelerator (in 2011).
Snappa, founded in 2015, is a graphic design software for marketers, without needing to wait for in-house designers or external contractors. Snappa affords facile design creation to make highly engaging images, blog posts, infographics, ad campaigns, and newsletters. This Canadian company is private with fewer than 10 employees
In a similar way, Cyndx Finder analyzed the funding landscape for both Canva, and Canva’s competitors. The result was 97 investors that are the most active or likely to invest in this industry, based on previous investment preferences. The 3 most relevant investors are 500 Startups, Shasta Ventures, and General Catalyst.
The most relevant investor of the 97, 500 Startups is an Accelerator based in California. It’s median deal size is $1M. Its relevant investments to this space are a $3M seed round in Canva, $6.5M Series A round in Behance, and a $100k seed round in Slidebean.
Second most relevant is Shasta Ventures, a Californian Venture Capital firm with a median deal size of $10M. Its relevant investments are a $6M Series A round in Canva, and a $16.8M Series B round in Logoworks
Third most relevant is General Catalyst, a Massachusetts based Venture Capital firm with median deal size of $12M. Its relevant investments are a $70M series D round in Canva and a $4.2M Series A round in PhotoShelter.