Canva Buys Simtheory and Ortto in Big AI Push as Blackbird Reaps Big Payday
The Australian Financial Review
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Details
- Date Published
- 9 Apr 2026
- Priority Score
- 1
- Australian
- Yes
- Created
- 9 Apr 2026, 06:00 am
Description
Canva has made more acquisitions than any other local tech platform in the past two years, and has added two more, as Blackbird Ventures reaps the returns.
Summary
Canva's acquisition of Simtheory and Ortto highlights a rapid consolidation of Australian AI capabilities within major commercial design platforms. While the acquisitions signal significant expansion in frontier deployment and personalized AI agents, the report focuses primarily on commercial valuation and market competition rather than safety guardrails or existential risk. The growth of Simtheory's agentic AI technology represents an advancement in Australian frontier capabilities that necessitates future scrutiny regarding automated decision-making risks. This development underscores the commercial momentum of the Australian AI ecosystem ahead of potential public listings.
Body
TechnologyStart-upsPrint articleAmelia McGuireBusiness reporterApr 9, 2026 – 7.00amCanva has acquired two local artificial intelligence companies as it attempts to shore up its capabilities ahead of a potential public listing.The purchase of Simtheory and Ortto takes to eight the number of AI companies the design software giant has acquired since 2024 at a cost of more than $400 million. Canva was last valued at $US42 billion ($60 billion).Loading...correction —An earlier version of this article referred to brothers Chris and Mike Starkey. This has been corrected to Chris and Mike Sharkey.SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreStart-upsFundingCanvaMergers & acquisitionsAISoftwareFetching latest articles