Australian tech powerhouse Canva has expanded its portfolio by acquiring two local artificial intelligence companies, Simtheory and Ortto, as it seeks to evolve beyond its origins as a creative design platform. Canva, which has achieved a staggering valuation of $60 billion, was co-founded by Melanie Perkins, Cliff Obrecht, and Cameron Adams, who are now multi-billionaires.
The acquisitions, the latest in a series of moves aimed at integrating AI technology, bring Canva’s total AI purchases to eight since 2024, amounting to an investment of approximately $400 million in AI development. Simtheory and Ortto were established by Sydney siblings Chris and Mike Sharkey, who will now join Canva’s workforce. Ortto’s team of 40 will be integrated into Canva’s existing global workforce of about 5,500.
Canva’s chief operating officer, Cliff Obrecht, noted that this acquisition is pivotal in transforming Canva into a comprehensive workplace system. The aim is to streamline the user experience, enabling clients to “ideate, create, edit, publish, measure, and optimise” all within Canva’s ecosystem.
Simtheory will enhance Canva’s AI capabilities, while Ortto serves over 11,000 customers across 190 countries as a marketing automation tool. According to a Canva spokesperson, integrating Simtheory will expedite the company’s progress towards providing an end-to-end solution where AI acts as a partner in the creative process.
Canva is set to unveil further developments regarding its AI strategies at the upcoming “Canva Create” conference. This event is anticipated to be a landmark occasion for the company, with staff hinting that the announcements will surpass the significance of previous acquisitions.
In summary, Canva’s recent acquisitions position it at the forefront of integrating AI into its design and marketing offerings, supporting its evolution into a holistic platform for creative professionals. As it keeps growing, with plans for an initial public offering in 2027, Canva continues to underline its significant impact within the tech landscape in Australia and beyond.