In only four months, Berlin-based artificial intelligence startup n8n has surged from a $350 million valuation to $2.3 billion, as venture capital giant Accel leads a funding round expected to raise hundreds of millions of euros for the company, according to Bloomberg.
Accel Secures Lead Role Amid Intense Investor Competition
Accel beat out several major investment firms, including Insight Partners, to secure the lead role in the latest funding round for n8n. Palo Alto, California-based Meritech Capital is also expected to participate, according to sources cited by Bloomberg. The $2.3 billion valuation is pre-money, meaning it reflects the company's worth before the new capital is added.
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The startup's previous backers include Sequoia, HV Capital, Felicis, Firstminute Capital, and Runa Capital, with an earlier report from Financial Times saying n8n was in talks to raise at a valuation above $1.5 billion. The final figure now surpasses $2 billion, Bloomberg reports, highlighting how investor demand for AI companies in Europe is accelerating at a historic pace.
Europe's AI Investment Wave Reaches New Heights
While the U.S. and China have led the development of generative AI through companies such as OpenAI, Anthropic, Zhipu AI and Google, which are building so-called "frontier" models, Financial Times says European startups have found success by targeting AI applications and services for businesses. Firms such as Synthesia and DeepL have secured funding at multibillion-dollar valuations.
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According to Bloomberg, French startup Mistral AI has also been in talks to raise as much as $1 billion in equity funding. German defense AI firm Helsing more than doubled its valuation to €12 billion ($13.93 billion), while Swedish AI programming company Lovable secured $200 million to achieve unicorn status.
Founded in 2019, n8n develops workflow automation software that enables businesses to integrate artificial intelligence agents into daily operations. These agents can handle multi-step tasks autonomously, which Bloomberg says many in the industry see as the next major application of AI after chatbots.
N8n says its platform offers more than 500 integrations, supports both cloud-based and on-premises deployment, and allows teams to automate processes across IT operations, sales, security, and customer service.
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Revenue Surge, High-Profile Clients, and a Growing Community
According to Bloomberg's sources, n8n has surpassed $40 million in annual recurring revenue in recent months. In March 2024, the company raised €55 million in a round led by Highland Europe, which valued it at about €300 million. At the time, Highland Europe stated that n8n had grown its annual recurring revenue fivefold over the prior year and secured major clients including Vodafone Group Plc and Delivery Hero SE.
N8n's hybrid approach of combining visual drag-and-drop tools with the option to write custom code has appealed to both developers and enterprise teams. This flexibility enables technical teams to build AI workflows quickly while retaining full customization when needed.
N8n has built a community of more than 200,000 members and ranks among the top 50 most-starred projects on GitHub, with over 127,000 stars. The company says it has also earned a 4.9 out of 5 rating on G2, where users praise its flexibility and ease of use for automation projects.
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