By Nina Atimah
- Canva–a woman-led business has hit a $3B revenue and become one of the most valuable startups
- Female entrepreneurs face acute challenges with only 2% in venture capital funding
Melanie Perkins didn’t look like a typical tech founder. She was young, non-technical, and based in Australia. That was enough for more than 100 investors to pass on Canva. Now, Canva is one of the most valuable startups in the world. The graphic design platform serves 230 million users and pulls in $3 billion in revenue. Perkins is the only woman to have founded a unicorn at this scale. And she did it while being overlooked.
Why This Matters: It’s no secret that there is a funding gap that on the surface looks like it hurts women but it is also a loss for investors. Less than 2% of venture capital goes to all-female founding teams. In design, women make up over half the workforce, but almost none of the founders. That funding gap persists even though female-founded startups often outperform their male counterparts even with less funding. Canva isn’t an exception. It’s part of a painful pattern. Investors are missing value because they keep betting on familiarity, not performance.
Critically, female founders face particularly acute challenges in early-stage funding. Without initial capital, female founders struggle to reach milestones required for Series A/B rounds. Sadly, it doesn’t stop there. Investors often push women toward premature exits rather than supporting long-term growth strategies afforded to male founders.
What’s Next: So how can more women build? Perkins’ journey with Canva exemplifies the broader challenges and untapped potential of female founders: success is possible, but structural barriers and funding biases remain. Female founders can employ targeted strategies to navigate systemic funding challenges:
- Leverage Female-Focused Funding Networks
- Build Strategic Networks and Advisory Teams
- Master Data-Driven Pitches
- Explore Alternative Funding and Bootstrapping
Investors – If you’re funding the next wave, look beyond the usual suspects. The next Canva won’t come from the center.
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