Adobe Competitor Canva Used by 95% of Fortune 500 Companies

Canva continues its torrid pace, announcing Dream Lab, a generative artificial intelligence (AI) tool, alongside significant upgrades to Canva’s Visual Suite, content library, and solutions for small businesses and students.

Only three months after Canva acquired generative AI company Leonardo, it has built a new tool using Leonardo.Ai’s technology: Dream Lab.

Using Leonardo’s Phoenix foundational model, Dream Lab enables Canva users to transform simple texts into AI-generated photos and graphics. Dream Lab allows users to generate multiple variations of their ideas in more than 15 styles, including 3D renders and illustrations. Beyond text prompts, users can also select an existing image to use as a style reference to more precisely control the look of the output.

“Canva joined forces with Leonardo.Ai to bring even more powerful AI capabilities to creative professionals. Millions of users, from content creators to professional designers, architects, and film directors, trust Leonardo.Ai for its cutting-edge quality and flexibility,” Canva explains. The company says that by combining Dream Lab with its other features, like Magic Studio and a content library with more than 100 million assets, users have access to “an endless supply of content.”

Speaking of Canva’s vast content library, the company announced new global partnerships with leading content studios Artlist and pocstock, bringing even more assets to Canva users. Through Artlist’s Premium Video Library, Canva now offers music and cinematic video assets from top artists. As for pocstock, this new partnership adds 150,000 photos to Canva.

Throughout its rapid growth, Canva targeted small businesses, individuals, and students. That’s still true, as they remain vital parts of Canva’s user base. Still, the company has significantly expanded its enterprise efforts to try to siphon off more of Adobe’s robust enterprise business.

Alongside unveiling Dream Lab and expanding its content library, Canva shared insights into the company’s performance that show just how big Canva has become. Canva has more than 200 million users worldwide every month and achieved an annualized revenue of $2.5 billion.

Within Canva’s Visual Suite, users have created over 500 million documents and assets for more than 2.5 billion presentations. Canva says its users make 300 new designs every second.

As for its broader business efforts, Canva Enterprise launched five months ago and is now used for many large companies, including the NYSE, Atlassian, HP, Snowflake, DHL Express, and DocuSign. More impressively, Canva claims that 95% of Fortune 500 companies use its software.

“We’re incredibly excited to now be empowering more than 200 million people in nearly every country across the globe. From over 95% of the Fortune 500 to millions of small businesses, classrooms and nonprofits, it’s certainly an exciting milestone but we feel we’re still just 1% of the way there,” says Melanie Perkins, Canva’s Co-Founder and CEO, “As we double down on empowering everyone to turn their ideas into designs, we’re introducing dozens of new features across our Visual Suite at the intersection of creativity and productivity. From more interactive designs to a suite of AI-powered upgrades, we hope these new features help our community to continue achieving their goals.”

Canva is free to use for individuals, although there are paid subscriptions with access to premium features. Canva Teams and Canva Enterprise are both paid subscriptions, with the precise cost determined by the size of the team and specific needs.

Image credits: Canva