Online design platform Canva is acquiring two companies – AI video advertising startup MangoAI and AI animation startup Cavalry.
MangoAI is a US-based AI video company that converts text and images into professional videos featuring talking avatars. The tool lets users create engaging social media ads, assets, and product demonstrations.
The platform has a video advertising optimisation element, which Canva plans to integrate into its ad management suite Canva Grow, letting brands create personalised marketing content in real-time. The company’s co-founder Vinith Misra will join Canva’s research lab as Reinforcement Learning Lead.
Cavalry, on the other hand, is a UK-based 2D motion design and animation company. Its animation tool is known for letting users take data from sources like Google Sheets and CSV files to create complex animations with AI.
The platform is built for motion designers and is already used by major tech companies like Apple, Meta, Google, and Netflix.
Positioning as an Adobe Competitor?
In 2024, Canva acquired its first AI startup Leonardo.ai, a GenAI platform for video, image and 3D texture generation. The platform aims to give creators more control over AI generated content compared with ‘one-click’ tools.
The dual acquisition is aimed at bolstering its offering, positioning the company as an AI-first design platform, potentially rivalling it against design software powerhouse Adobe.
After the acquisition of Affinity, Canva now offers photo editing, vector design, and desktop publishing.
While Canva was initially positioned as a tool for beginners, it is quickly shifting to being a professional-level platform – making it a low-cost alternative to Adobe’s Creative Cloud suite.
Canva has now acquired 12 companies, including Cavalry and MangoAI, Affinity, Flourish, Pexels, Pixabay, Kaleido, Smartmockups, MagicBrief, and Leonardo.ai.
