The Financials Behind Canva’s Corporate Sales Battle Plan Against Adobe

Software startup Canva, which has grown to a $26 billion valuation with a message that it is “democratizing design” for people without professional training, is increasingly pinning its fortunes on selling its suite of editing tools to the biggest companies in the world.

The privately held Australian company told prospective investors late last year that its nascent corporate sales business would grow roughly 60% this year, to about $650 million in annual recurring revenue. In comparison, its more established software suite targeting individual designers is expected to grow 38% to $1.7 billion in ARR. The projections preceded Canva’s largest ever acquisition last week of British professional design software maker Affinity, which Canva will use to drive corporate sales.