Graphic design and collaboration platform Canva has raised $200 million in a funding round led by investment management firm T.Rowe Price.
The Australian company, which allows users to make posters, social media graphics, presentations and more by providing presets and templates is now valued at $40 billion. Canva was valued at $15 billion in a funding round in April.
Canva will use funds to double the team of more than 2,000 employees.
T.Rowe Price, which has $1.68 trillion in assets under management, was joined by Franklin Templeton, Sequoia Capital Global Equities and Bessemer Venture Partners among others in the latest funding round.
Canva has more than 60 million monthly users across 190 countries and counts companies including Zoom Video Communications, Salesforce and PayPal as its customers.