Australian design software company Canva has launched an employee share sale valuing the business at $42bn, a more than 30% jump from its $32bn valuation last year, according to a Bloomberg report.

The programme allows staff to sell shares to new and existing investors, including Fidelity Management & Research and JPMorgan Asset Management.

“This round has been significantly oversubscribed,” said Cliff Obrecht, Canva’s co-founder and COO. “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.”

Canva is expanding its suite of AI-powered tools to drive growth and position itself for a potential IPO. In April, the company introduced a conversational AI photo editor aimed at attracting corporate customers from rival Adobe. Adobe is pushing its own AI platform, Firefly, while competitor Figma went public in July at a $34bn valuation.

Founded in 2013 by Melanie Perkins, Canva has grown into one of the world’s largest design platforms, with over 240m monthly active users and annualised sales exceeding $3.3bn. While the company has not disclosed IPO plans, the share sale provides liquidity for employees while keeping Canva private.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.