Australian design software company Canva Inc is accelerating its expansion into digital workplace products, adding artificial intelligence tools to its suite to better compete against Microsoft Corp and Google.
Canva, valued most recently at about US$26bil , is focusing its product offering to design professionals to fuel growth in large companies. It’s also taking on companies such as Microsoft and Google, whose presentation and text processing software dominate in corporations across the planet. Canva, which acquired Austrian AI startup Kaleido in 2021, is now joining the race to push generative AI features into widely used software applications. That means putting AI tools into the hands of workers to make them more creative and productive. Microsoft and Adobe Inc have recently revealed their plans for AI-based image generation. Canva is hoping to gain an edge by being among the first to make the tools available to all customers, rather than doing a limited roll-out.
Canva’s platform has gained popularity among smaller companies and Gen Zs since its inception in 2013. But in recent years, it has been trying to target larger enterprise customers. FedEx Corp, Starbucks Corp and Zoom Video Communications Inc are among firms that have embraced Canva’s all-in-one design platform.
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