Canva, the Australian design software start-up, has reached a US$42 billion valuation through an employee stock sale, marking a 30% increase from its 2024 valuation of US$32 billion. Employees can sell shares to both new and existing investors, including Fidelity Management & Research and JPMorgan Chase’s asset management division.

The company is leveraging artificial intelligence to enhance its design platform and boost revenue, launching products like a conversation-based AI photo editor earlier this year. These AI-driven tools aim to attract corporate clients and compete with major rivals, including Adobe, which is developing its Firefly AI for Photoshop and Lightroom, as well as San Francisco-based Figma, valued at US$34 billion following its public debut in July.

Cliff Obrecht, Canva’s COO and co-founder, highlighted strong investor interest, saying, “This round has been significantly oversubscribed. The overwhelming demand from both new and existing investors is a huge vote of confidence in our momentum and the scale of what still lies ahead.”

Founded in 2013, Canva became popular for its simple, intuitive tools, allowing users to create everything from social media posts to invitations. The company now serves over 240 million monthly active users and generates more than US$3.3 billion in annualized sales.

Employee stock sales give staff liquidity while keeping the company private, and Canva remains a strong IPO candidate, though no formal plans have been announced.

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