The Australian design powerhouse, Canva is doubling down on artificial intelligence to fuel its next phase of growth.
The Sydney-based firm confirmed on Tuesday the acquisition of two more AI startups: British animation software provider Cavalry and US-based marketing algorithm firm MangoAI.
According to reports, these deals mark the company’s fourth and fifth acquisitions in just two years, joining a stable that already includes LeonardoAI, MagicBrief, and Affinity.
Canva’s leadership is betting that deep integration of AI will maintain the platform’s momentum.
The company also announced the appointment of its first chief algorithms officer, Nirmal Govind, a co-founder of MangoAI, who will spearhead the company’s targeted content efforts.
According to co-founder Cliff Obrecht, the strategy is designed to dominate the entire “content lifecycle.”
“Once you’ve created something, whether it’s a campaign asset, social post, or a video ad, it needs to be distributed, measured, refined, and constantly improved,” Mr Obrecht said. “The brands that succeed are the ones that can test, learn and iterate faster than everyone else.”
He added that the latest acquisitions are intended to “close that feedback loop” for the platform’s 265 million monthly active users.