Canva has launched a new text-to-image generator based on the Phoenix foundation model technology it acquired earlier in 2024 with the purchase of Leonardo.ai.
Canva claims the new Dream Lab tool can generate up to 15 different types of graphics, including 3D renders and illustrations, and can also reference other images to fine-tune outputs, making its outputs more reliable.
It’s also capable of generating multi-subject images and photorealistic portraits.
Canva Dream Lab
The unveiling of Dream Lab comes as Canva’s popularity continues to soar – it now boasts 200 million monthly users, marking a 130% year-over-year increase. The company’s annual revenue also recently hit $2.5 billion, which is coincidentally also the number of presentations that its users have made.
The announcement, detailing a number of product launches and enhancements, also sees the company boast about the 10 billion uses that its Canva AI tools have seen to date - a jump of three billion since the Leonardo.ai acquisition.
As part of its drive, Canva is also rolling out more than 40 new features across its Visual Suite, including updates to Canva Docs, enhanced video editing tools and the introduction of interactive features like polls, quizzes and dynamic charts.
Furthermore, recognizing its growing userbase in the UK, Canva has opened up two new buildings in Hoxton Square, London, tripling the size of its campus in the city.
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