Obrecht said the deal is open to current and former Canna employees, allowing them to raise money for investors. When employees join a tech startup, they are typically offered outright shares or stock options as part of their compensation. These shares are typically illiquid and cannot be easily sold.
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“This round has been significantly rewritten, which is a huge testament to the incredible work of our team, and the impact canvas is all over the world,” Obrecht said in a statement.
“The overwhelming demand from both new and existing investors is a huge vote of confidence in our momentum and the scale of what lies ahead.”
Canva investors have said the company is a “once-in-a-century” Australian success story; its co-founders have said they plan to give away their entire fortune.
“I think that when we run such a large company with such significant valuation, it’s our responsibility to use it to be a force for good and make the world a better place, not just store shit,” Obrecht said in a previous interview.
“There are only so many beds you can sleep in in one night, and only so many steak dinners you can have.”
Paul Bassat, co-founder and partner at lead investor Square Peg, said Canva represents one of technology’s most notable success stories worldwide.
“In just over a decade, the company has transformed from a local Australian startup into a global powerhouse and one of the world’s leading software companies,” he said.
“We are excited to see that through this competitive bidding process, current and former Canva employees who have helped drive Canva’s growth can now share in the value they helped create.”
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The round is led by Fidelity Management & Research Company, an existing shareholder, while US equity group JP Morgan Asset Management joins as a new investor.
“Identifying companies that can provide investors with key exposure to breakthrough work in AI is an important pillar of our research in active management,” said Felise Agranoff, portfolio manager at JPMorgan Asset Management.
“We believe Canva stands out in the design industry and can help create long-term value for investors.”
Canva is likely to list on the stock exchange in 2026, which would be one of the most significant events in Australian tech history. Obrecht previously said a public listing would likely take place on Nasdaq in the US, rather than the ASX.
Canva took some of its first steps towards an IPO (initial public offering) earlier this year, when it formed a parent company based in the US state of Delaware, following the acquisition of previous tech success Atlassian, which is also listed on NASDAQ. However, the move has upset some employees, given that the change meant equity owners would have large tax bills to pay to the Australian Taxation Office in October. For some employees, it meant a tax bill of more than $1 million.
An email to staff, first reported by the Australian Financial Review , said the move was “in line with international best practice” and “sets us up for long-term success, including preparing for a future IPO”.
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