Canva, a leading force in visual communication with over 190 million active users, is set to acquire Leonardo.AI, a prominent Australian startup known for its advanced generative AI technology. This move, announced today, marks a significant step in Canva’s mission to advance its suite of visual AI tools.
Leonardo.AI, recognised for its innovative image and video generation technology, will now join forces with Canva. This acquisition aligns with Canva’s strategy to deepen its investment in AI research and development. Leonardo.AI’s foundational model, Phoenix, is particularly notable for its high-quality image generation and prompt adherence, features that will significantly enhance Canva’s capabilities.
Cameron Adams, Canva’s co-founder and Chief Product Officer, expressed excitement about the merger: “We’re thrilled to welcome Leonardo.AI to Canva – two Australian companies joining forces to bring world-first breakthroughs in AI and creativity.”
Leonardo.AI, founded in late 2022, has quickly gained traction with over 19 million registered users. Its technology, which includes tools for creating images, videos, and custom-trained AI models, will complement Canva’s existing Magic Studio suite. This suite has been used over 7 billion times since its launch in 2023, showcasing its impact on design and creative processes.
JJ Fiasson, Founder and CEO of Leonardo.AI, commented on the acquisition said joining Canva will allow us to scale our AI research and deliver even more innovative features to creatives around the world.
The integration of Leonardo.AI into Canva’s operations is expected to bolster Canva’s AI offerings, enhance user creativity, and continue its legacy of tech-driven design solutions. This acquisition is Canva’s eighth, following previous purchases aimed at expanding its technological reach and capabilities.
