Canva's $2 Billion Sales Funnel

With 180 million users and $2 billion in revenue, Canva is one of the most well-known SaaS companies - and likely the most intuitive graphic editor. Here’s how it acquires customers.

Hi, it’s Andreas, and I’m back with Growth, my newsletter that dives deep into today's top startups' funnels and growth tactics.

Today, we’re covering Canva - a tool that probably needs no introduction. But someone who definitely does deserve an introduction is my friend

Irene

, whom I brought on board for this issue.

On her Substack, she analyzes website and app design through the lens of neuroscience and psychology. You should definitely check out her content - it’s AWESOME.

Now let’s jump in.

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In 2024, Canva reached 180 million users globally. With 16 million premium users, it generated $2 billion in revenue, making it a heavyweight in the SaaS space.

All the more reason to take a closer look at how Canva’s growth and sales funnels work.

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Quick Note

A classical sales funnel does not reflect how marketing and sales work. You cannot strictly separate content and channels that solely drive awareness from those responsible for conversions. However, for the purpose of this analysis, it is easier to break it down this way.

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What a $2B Sales Funnel Looks Like

Canva is doing a lot in terms of sales and marketing.

No wonder - it's a widely used tool with a diverse target audience.

Looking at the website alone, we can identify several main target groups:

• Students, teachers, & Universities

• Single users

• Teams & enterprises

But when navigating this jungle of activities, one thing stands out:

Canva follows a smart segmented marketing approach.

Instead of promoting Canva as a whole, they tailor their marketing to each target group.

This makes the sales funnel look like this (link to the full breakdown at the end).

But let’s start at the top.

How Canva Drives Awareness

Like every major tool with millions in funding and significant media buzz, Canva is in the fortunate position of not having to educate people about the tool.

It is mainly done by others:

And this opens up a whole new playing field for Canvas's own content.

Which looks like this: