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Founders Fund, Shasta Ventures back Australia's Canva

  • Andrew Woodman
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Founders Fund and Shasta Ventures have led a $3.6 million round of funding for Canva, an Australian website that allows amateur designers to create polished web graphics using drag-and-drop tools.

Existing investors Matrix Partners, Blackbird Ventures, and Square Peg Capital also participated.

This brings the total raised by company to about $7 million. The previous insitutional round took place in March last year when Canva raised $3 million from Matrix, Blackbird, InterWest Partners and 500Startups.

Headquartered in Sydney with 26 full-time staff, Canva is an online graphic design platform that provides templates and tools for social media graphics, presentations, posters, blog graphics and invitations.

To date, the start-up claims to have amassed 600,000 users who have created 3.5 million designs. The site makes money through a "freemium" model -  it is free to use with income generated through a catalog of paid images and portfolios offered by professional designers.

To coincide with the funding round, the company has also unveiled a "Canva Button," a plug-in for third-party websites which allows their users to create their own graphics. The company is also forming partnerships with hosting websites - including GoDaddy, Tailwind, Agora Pulse, Post Planner, and TabSite - where this feature will be available.

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