Canva, a leading graphic design platform, has recently announced its acquisition of Leonardo.ai, a startup specializing in generative AI content and research. The financial details of the deal were not disclosed, but it has been confirmed that all 120 employees of Leonardo.ai, including the executive team, will join Canva.
With this acquisition, Canva aims to enhance its AI technology stack by leveraging Leonardo.ai’s expertise. While Leonardo.ai will continue to operate independently, it will be supported by Canva’s resources to drive rapid innovation, research, and development. Canva’s co-founder and chief product officer, Cameron Adams, expressed that the acquisition will enable Leonardo.ai to further develop its platform and expand its user growth by investing in foundational model research and development, as well as expanding its API business.
Originally founded in 2022 with a focus on video game asset creation, Leonardo.ai decided to broaden its platform to cater to various industries such as fashion, advertising, and architecture. Today, Leonardo.ai offers collaboration tools and a private cloud for training AI models and generating videos.
The integration of Leonardo.ai’s capabilities into Canva’s platform is expected to bring new possibilities for users in creating visually stunning and impactful content. This strategic move by Canva reinforces the company’s commitment to advancing its AI technology and providing innovative solutions to its diverse user base.