Design powerhouse Canva announced the acquisition of two Australian AI start-ups, Simtheory and Ortto.
The double acquisition brings Canva's tally to eight AI-focused purchases since 2024, representing a total investment exceeding $400 million.
The deal marks a windfall for Blackbird Ventures, Australia’s premier venture capital firm.
Having backed Ortto since its 2012 inception, Blackbird has now seen three of its portfolio companies—including Leonardo.Ai and MagicBrief—integrated into the Canva ecosystem.
While the exact financial terms remain undisclosed, sources close to the deal suggest it represents Canva’s most substantial investment since the US$250 million buyout of Leonardo.Ai last year.
Founded by brothers Chris and Mike Starkey, Simtheory specialises in workflow platforms for AI agents, while Ortto provides sophisticated marketing automation.
Canva COO Cliff Obrecht stated these acquisitions are essential for the company to transition from a traditional software provider to an "AI-first" entity, directly challenging industry titan Adobe.
"We've only scratched the surface of our scaling potential,” Obrecht remarked, noting that the company is preparing to unveil its most significant product transformation to date at an upcoming event in Los Angeles.