Australian graphic design software startup Canva has tripled its revenue to rake in $23.49 million for the 2017 financial year.
The cloud software provider, led by Business Insider Tech 100 entrepreneur Melanie Perkins, brought in $6.8 million in the previous financial year, representing a 245% climb in the space of just 12 months.
The Sydney company, while still in the growth phase, has stemmed its losses as well, going $3.3 million into the red for the year ending June 30, as opposed to $5.26 million the previous June.
Canva and Perkins declined to comment to Business Insider, citing the private nature of its financials.
However, the company did point out it now has a user population of more than 10 million in 179 different countries. On one particular day in late 2016, 50,000 people signed up.
“It’s actually quite crazy, because every week is pretty much our best week ever. We have the most number of designs created, the most number of people joining, it’s quite crazy how quickly we’re growing across every single front,” Perkins told Business Insider at the time.
The graphic design platform, which is a challenger to Microsoft Word and Adobe Photoshop, was founded in 2012 by Perkins, Cliff Obrecht and Cameron Adams.
The startup has raised a total of $US42 million in capital, including investments from movie stars Owen Wilson and Woody Harrelson, Felicis Ventures, Matrix Partners, 500 Startup co-founder Dave McClure, Blackbird Ventures and Google Maps co-founder Lars Rasmussen.
In June, the cloud software company reached out into the physical world, launching a print and delivery service to allow customers to turn their designs into paper form. Canva Print first rolled out to the US with 4-day shipping, but is now available in Australia and Europe.
“Whether it’s trying to get your home printer to work, having to drive to the nearest Kinko’s, or making do with a limited online tool, we don’t think that’s the way print should be done,” said Perkins in June.
The platform is currently available in 42 languages, but is set to be expanded to 100 languages by the end of the year. And while the app has long been available on the desktop and iOS, an Android version is coming “soon”.
Perkins this year also starred in a film about Australian startup entrepreneurs, titled The New Hustle, in a project financed by SafetyCulture’s Luke Anear to make the tech world more relatable and accessible.
Canva has more than 200 staff in Sydney, San Francisco and Manila. Staff costs increased from $6.6 million last year to $14.3 million for the 2017 financial year, in the single biggest jump in costs for the company.