Canva targets businesses with new tools, its turnover is in the billions – Forbes France

With 185 million active users, a valuation of $26 billion (€23.9 billion) and recurring annual revenue of around $2.3 billion (€2.1 billion), Australian company Canva has made remarkable progress. She unveiled software updates designed specifically for businesses to its 185 million monthly users.

Article by Alex Konrad for Forbes USA – translated by Lisa Deleforterie

Canva is trying to capture the business market. Already used by most major US companies, it has expanded its influence beyond design to focus on tools for the workplace, allowing it to nearly double its user base over the past 18 years. At its annual customer and press event, held for the first time in Los Angeles, Canva announced an overhaul of its software suite to accelerate enterprise adoption and attract 2 million online users, according to the company.

If last year was marked by advances in generative AI at Canva, this year’s focus is clear, according to Melanie Perkins, co-founder and CEO: “It’s year of work According to FedEx, it reduced brand review requests for its marketing materials by 75% using Canva; Expedia saves 160 hours a week using its tools. Workday estimates it saved 33,000 hours of work by not having to create documents from scratch.

That last number got Mrs. Perkins thinking. ” I wondered if it was real. That’s a really important number “, she said Forbes. ” We double-clicked a few times and yes, it was real. »

Originally designed as a simple tool for creating online design assets, Canva already had around 20 million users when it introduced its first enterprise suite in 2019. cover story Forbes. Since then, it has gradually integrated features specifically designed to attract large enterprises, such as user permissions, brand asset management, and enhanced security standards, one by one.

Canva’s new features continue in that vein, giving businesses the ability to tailor the tools to their structure by allowing specific design templates and other documents to be pinned to each employee’s workspace. Canva is also beefing up its commenting system and making team-created content easier to find. In addition, Canva offers template packages suitable for different functions such as human resources, marketing and sales.

According to Ms. Perkins, Canva’s evolution reflects the desire of large customers to consolidate the number of tools they use. Although Canva remains compatible with all major business software, businesses are increasingly aware of the amount of data and intellectual property stored in various tools, she explained.

This need has increased recently with the deployment of generative AI tools used for a variety of business tasks, from images for social media to sales pitches and online training. Canva says its own AI tools, Magic Studio, have been used 6.5 billion times since its launch in October. However, a company spokesperson declined to comment on the number of distinct users that number reflects.

Indeed, visual communication has become the status quo in all parts of business said Mrs. Perkins. ” The organizational complexity has also increased significantly. »

Canva relies on expanding its features for businesses

Canva’s evolution is part of the same dynamic as other popular productivity tools. For example, like Zoom, originally an online video conferencing tool that now offers messaging, whiteboarding and more, Canva can also create smart documents. Similarly, a few years ago, Slack, a platform for collaborative communication, took a similar path by expanding its features.

In March, Canva bought Affinity, a popular tool among professional graphic designers, putting it in more direct competition with its creative software rival Adobe. Canva will now offer the software for free to nonprofits, students, and teachers, as it does with its other products. The company claims to work with more than 600,000 nonprofits and 60 million students and educators. ” Design always remains at the heart of our mission said Mrs. Perkins.

Increasingly, Canva is diversifying and expanding its service offering and looks more like a mature enterprise software company (one that could eventually go public) than a burgeoning startup. ” We see strong demand for a consolidated platform “, stated the CEO. ” However, Canva cannot and does not want to do everything. »

However, Canva will continue to expand its functionality to cover more functions within enterprises, with an update to its Enterprise offering likely to be the next key step in its growth path. It is in this way, and thanks to its ability to adapt to the needs of users, that Canva will achieve the main ambitions of its CEO. As Melanie Perkins said: “The goal is to have 1 billion people use Canva every month “.

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