Canva Acquires Generative AI Pioneer Leonardo.AI to Augment Visual Creation Tools

In a move that will significantly bolster its AI capabilities, Canva has announced plans to acquire Australian generative AI startup Leonardo.AI. As one of the leading providers of visual content creation tools, Canva sees this acquisition as key to enhancing its offering and vision of building a premier suite of visual AI solutions.

Leonardo.AI, founded in 2012, has made waves in the creative industry with its abilities to instantly generate high-quality images, videos, and other assets from simple text prompts. With over 120 researchers, engineers, and designers on its team, the startup brings unparalleled expertise in generative AI that will strengthen Canva’s in-house R&D efforts.

According to Canva co-founder Cameron Adams, combining the two Australian companies’ talents will accelerate innovation in AI and creativity. This marks Canva’s eighth acquisition to date, continuing its strategy of scaling through strategic purchases.

For Leonardo.AI founder JJ Fiasson, joining Canva opens up opportunities to invest further globally and deliver new AI-powered features benefiting millions of visual creators. With a combined user base now topping 19 million, the acquisition signifies a major step for both companies in realizing their shared goal of revolutionizing visual communication through cutting-edge technology.