Canva at $4B ARR growing 43% YoY
Jan-Erik Asplund
TL;DR: Canva has gone from world's most popular WYSIWYG design tool into an AI-first marketing suite, repositioning around its own foundation model (Canva Design Model) which generates fully editable, structured Canva templates & designs. Sacra estimates Canva hit $4B in ARR at the end of 2025, up 43% YoY from $2.8B. For more, check out our Canva report and dataset.
We first covered Canva in October 2023 as the $1.7B/year rectangle generator, followed up in July 2024 at $2.3B ARR as it relaunched Enterprise to go bundle-for-bundle against Adobe, then followed up in December 2024 at $2.55B ARR after it acquired the foundation model company Leonardo AI.
Key points from our February 2026 Canva update via Sacra AI:
- Sacra estimates Canva hit $4B in ARR at the end of 2025, up 43% YoY from $2.8B in 2024, with 265M monthly active users, up 20% YoY, and 31M paid subscribers, valued at $65B in a late-2025 secondary sale for a 16x revenue multiple. Compare to public SaaSes Adobe (NASDAQ: ADBE) at $24B trailing revenue in 2025, up 11% YoY, for a 4x multiple on its $105B market cap and Figma (NYSE: FIG) at $1B trailing revenue in 2025, up 41% YoY, for a 16x multiple on its $16B market cap, and private AI-native startup Gamma ($87M raised, Accel) at $102M ARR in October 2025 valued at $2.1B for a 20.6x multiple.
- In October 2025, Canva repositioned from WYSIWYG design rectangle creator & editor (social media previews, business cards, slides) to AI-first text-to-rectangle creator with WYSIWYG editing, based on its design foundation model (Canva Design Model) that generates fully editable, structured Canva templates & designs and built on top of their acquisition of image generation startup Leonardo AI (July 2024). While Higgsfield ($300M ARR in February 2026) focuses on having the best UX for creative direction and producing the highest fidelity AI generated image & video assets, Canva looks to win as the best collaborative platform & system of record for generating channel-ready marketing deliverables, using basic native AI image generation and third-party generation apps (VEED, HeyGen, D-ID) as defense (and both as customers of Fal.ai).
- Continuing to beef up its bundle as a SaaS multiproduct SaaS suite—a linchpin for its 40%+ YoY ARR growth at $4B in revenue scale—Canva has acquired professional creative tools (Affinity, 2024), marketing intelligence (MagicBrief, January 2025), motion design (Cavalry, February 2026), and AI ad optimization (MangoAI, February 2026) offerings. Vertically integrated workflows across marketing research, creative production to campaign analytics & performance serves as a buffer to the threat from foundation model companies like Anthropic as they go deeper into B2B workflows with launches like Claude for Excel (Oct 2025) & Claude for PowerPoint (Feb 2026) versus more vulnerable single-product companies like Gamma.
For more, check out this other research from our platform:
- Canva (dataset)
- Figma (dataset)
- Miro (dataset)
- Canva at $2.55B ARR
- Canva at $2.3B/yr
- Canva: the $1.7B/year rectangle generator
- Gamma vs Anthropic
- Gamma vs Canva
- How Figma defied Adobe's bundlenomics
- Product manager at Canva on Canva's shift upmarket
- Jon Noronha, co-founder of Gamma, on building AI-powered slides
- Matthew Moore, Head of Design at Lime, on Figma vs. Adobe
- Head of Brand Design at a Series E startup on Figma's wall-to-wall adoption
- Courtney Scharff, manager of marketing ops at Figma, on Figma's marketing operations stack
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