Canva, the $32 billion design startup, is moving further into the marketing analytics space with its 12th acquisition. The company announced it is buying MagicBrief, a tool that analyzes ad performance, tracks spending and engagement, and monitors competitor campaigns, for an undisclosed amount.

Canva, known for its easy-to-use design tools, serves 240 million users worldwide and competes with Adobe Creative Cloud. The company has been integrating artificial intelligence into its offerings, including photo editing, coding, and chatbots. Cliff Obrecht, Canva’s co-founder and COO, said AI allows marketers to "do a lot more with less."

Founded in 2022 and based in Sydney, MagicBrief has 14 employees and tens of millions in annualized revenue. Canva plans to integrate the startup into a broader product later this year.

Since its 2013 founding, Canva has grown to 5,500 employees and over $3 billion in annualized revenue. Despite being seen as a strong IPO candidate, Obrecht emphasized long-term growth over short-term quarterly performance.

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