N8n has announced its $180m Series C, two months on from a bidding war involving VCs Insight Partners and Accel that saw its valuation skyrocket.
The round was led by Accel at a $2.5bn price tag, with participation from Meritech, Redpoint, Evantic and Visionaries Club. Sifted previously reported that Insight had offered a valuation of just under $3bn as it looked to secure the deal.
N8n is among a new wave of European AI application startups — which build tools around models made by the likes of OpenAI and Anthropic — that’ve increasingly been raising chunky rounds as investors bet big on their potential to change how enterprises do work and hit revenue milestones in rapid time.
The startup’s revenue was reported as surpassing $40m when it signed the term sheet in August. N8n declined to comment on those figures but said its revenue had grown tenfold in the past year.
Founded in 2019, N8n’s fresh valuation is a big uptick on the $355m it hit when it last raised in a $55m Series B.
"Billions have been poured into AI tools by businesses and governments, but many organisations are struggling to see meaningful results," Jan Oberhauser, CEO and founder at N8n, said in a statement.
"The fundamental challenge for the largest organisations isn't accessing AI, it's orchestrating it effectively."
Following the Series C, investment priorities for n8n include expanding engineering capabilities, continued development of new features, and growing the team to support international expansion.
