Canva, the global design software giant, has acquired Melbourne-based adtech startup Doohly, marking a significant entry into the digital out-of-home advertising sector. The deal, reportedly valued at US$21 million, is the latest in a series of strategic purchases aimed at expanding Canva's comprehensive marketing toolkit. This move underscores the company's ambition to manage the entire content lifecycle for its users.
Strategic Expansion into Outdoor Advertising
Doohly provides a software platform for managing advertising on digital screens in retail and public spaces. Its clients include prominent names like Rebel Sport, Mobil, and LiquorLand across Australia, New Zealand, and the UK. The integration will enable Canva users to seamlessly transition from creating designs to deploying them on physical advertising displays.
The startup was founded by Sean Law and Tom Sawkins, who identified a need for a streamlined digital out-of-home management system. Their vision was to democratize outdoor advertising, making it accessible to businesses of all sizes, not just large corporations. This acquisition brings their programmatic ecosystem into Canva's powerful suite of creative tools.
A Pattern of Aggressive Growth
The purchase of Doohly is Canva's third acquisition in 2026 and its sixth in the last two years, highlighting an aggressive growth strategy. This follows the recent acquisitions of US startup Mango.AI and UK-based Cavalry earlier in the year. These deals demonstrate a pattern of absorbing innovative technologies to bolster its platform's capabilities and market reach.
A Canva spokesperson confirmed the acquisition aligns with its focus on powering the entire marketing lifecycle for its users. The company praised Doohly for building a strong platform with a global customer base, noting it complements other recent additions like MagicBrief. Further details about the integration are expected to be shared by the company later this year.
Repositioning as an AI Powerhouse
This series of acquisitions is central to Canva's strategic pivot from a design software firm to a comprehensive AI platform. As the technology landscape evolves, the company is actively diversifying its offerings to stay ahead of competitors. This repositioning is crucial as Canva prepares for its next phase of major product announcements and global expansion.
Recent industry analysis supports Canva's growing influence in the artificial intelligence space, positioning it as a leading generative AI application. A report from venture capital firm a16z ranked Canva's usage just behind industry titans like ChatGPT and Google's Gemini. This recognition validates the company's efforts to integrate advanced AI functionalities across its product suite.
Financial Implications and Future Outlook
The reported US$21 million transaction represents a significant financial success for Doohly's founders and early investors, including Skalata Ventures. Co-founder Sean Law, who held a substantial stake in the company, is among those realizing a major return from the sale. The deal underscores the value being created within Australia's technology startup ecosystem.
This acquisition occurs as Canva continues its impressive financial trajectory, with a recent valuation of approximately US$45.3 billion and over US$2.8 billion in annualized revenue. The company is widely expected to pursue a public listing in the United States, with speculation pointing towards a late 2026 timeline. These strategic moves strengthen its market position ahead of a potential initial public offering.
Ultimately, Canva's acquisition of Doohly is a strategic move that extends its capabilities from digital design into the physical advertising world. This purchase, part of a broader growth strategy, reinforces the company's transformation into an all-encompassing AI-powered marketing platform. As Canva builds its ecosystem and eyes a public listing, it solidifies its status as a dominant force in the global technology industry.