Corel Expands Graphic Design Software Portfolio with Acquisition of Gravit Designer

Web-based, vector design tool joins the Corel portfolio of applications including CorelDRAW, Painter, and PaintShop Pro

Corel Corporation announces the acquisition of Gravit Designer™, a leading cross-platform, web-based vector graphic design application. Under the purchase agreement, Corel acquired all products and technology previously owned by Gravit GmbH. Financial details were not disclosed.

Corel is pleased to welcome the Gravit® product team to its development group. The company plans to accelerate the Gravit product line roadmap, expanding Gravit Designer’s reach to new markets and geographies, and ensuring its position as a leader in web-based graphic design. Gravit Designer joins the Corel graphics and digital media portfolio of products including industry-leading applications CorelDRAW® Graphics Suite, Painter®, and PaintShop® Pro.

“With a passionate and active community of users, Gravit offers an exceptional web-based graphic design experience. This acquisition further expands Corel’s cloud-based software offerings, and with our support and investment, Gravit Designer is well positioned to grow its leadership in this space. We’re excited for the opportunities ahead for this exceptional product,” said Patrick Nichols, CEO of Corel.

“Much of Gravit Designer’s success can be attributed to the incredible people behind its creation. We’re thrilled to have these talented and dedicated Gravit developers and designers join our team,” said Gérard Métrailler, Executive Vice President of Global Products at Corel. “We’d like to thank Gravit founder Alexander Adam for his vision and leadership that made Gravit Designer an exceptional product, and wish him the best with his next venture.”

“Corel has recognized and endorsed the innovation and vision behind the products and technology developed by the Gravit team,” said Dr. Marc Umber, Senior Investment Manager, High-Tech Gründerfonds, former investors in Gravit GmbH. “We are pleased that Corel, a global leader in creative software, will now enable the next stage of growth for this exceptional technology.”

Gravit Designer is an HTML5-based, cross-platform design tool for the 21st century that offers vector design right at your fingertips. Powering graphics creation in modern web browsers on every platform, from Windows and macOS to Chromebook and iPad, Gravit Designer can be used for free from https://designer.io/.

About Corel Corporation
Corel is one of the world’s top software companies. Our mission is simple: to help people achieve new levels of creativity, productivity, and success. For more information, please visit www.corel.com.

© 2018 Corel Corporation. All rights reserved. Corel, the Corel logo, the Corel Balloon logo, CorelDRAW, Gravit Designer, Painter, and PaintShop Pro are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries in Canada, the U.S., and elsewhere. All other trademarks mentioned herein are the property of their respective owners. Patents: www.corel.com/patent.

Contact:
Jessica Gould
Corel PR
jessica.gould@corel.com
www.corel.com

About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start- ups. With EUR 892,5 million in total investment volume across three funds (EUR 272 million in HTGF I, EUR 304 million in HTGF II and EUR 316,5 million for HTGF III) and an international network of partners, HTGF has already helped forge 500 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in a range of sectors, including software, media, internet, hardware, automation, health care, chemicals and life sciences.
This group also includes a number of success stories, such as Mister Spex, Rigontec, 6Wunderkin- der, Next Kraftwerke and Cumulocity, as well as Juniqe, an online shop for art enthusiasts. To date, external investors have injected over EUR 1.5 billion into the HTGF portfolio via more than 1,200 follow-on financing rounds. HTGF has also successfully sold interests in more than 90 companies.

Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik and WACKER and Wilh. Werhahn KG.

Contact
High-Tech Gründerfonds
Dr. Marc Umber
Schlegelstraße 2
53113 Bonn
T: +49 (0) 228 82300 – 100
F: +49 (0) 228 82300 – 050
m.umber@htgf.de
www.high-tech-gruenderfonds.de