Canva unveils Leonardo.Ai-powered Dream Lab
Make us a preferred source
Make us a preferred source on Google
The news: Canva is leaning more heavily into artificial intelligence, adding gen AI tool Dream Lab into its product lineup.
The numbers: Dream Lab is the major announcement of the design giant's "Droptober" update. Alongside some more incremental product upgrades, Canva also announced it now has more than 200 million users around the world — up from the 190 million it reported just last week at SXSW.
The context: Dream Lab is Canva's riff on platforms like Midjourney and OpenAI's Dall-E, tools that turns text prompts into images.
With the ability to generate visual objects like 3D renders and illustrations, Dream Lab is the first tool Leonardo.Ai has built for Canva since the latter acquired the former back in July. It's powered by Phoenix, Leonardo.Ai's proprietary foundation model, which was the first to be built by an Australian company.
The company is also touting the success of its professional-grade play, revealing that Atlassian, HP, DHL Express and Ray White are among those to have adopted the Canva Enterprise suite.
Canva is pushing further into AI and expanding its enterprise base as it moves towards going public. Valued at USD26 billion ($38.9 billion), Canva's leaders have said the company will float on the pubic market but have yet to specify when.
An IPO is expected sometime before the end of 2026.
What they said: “We’re incredibly excited to now be empowering more than 200 million people in nearly every country across the globe," said Melanie Perkins, Canva’s Co-Founder and CEO.
"From over 95% of the Fortune 500 to millions of small businesses, classrooms and nonprofits, it’s certainly an exciting milestone but we feel we’re still just 1% of the way there."
The source: Canva
