Berlin-based AI startup n8n reaches 2.5 billion dollar valuation

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The Berlin-based start-up n8n has raised 180 million dollars in a financing round led by the venture capital investment company Accel. As Bloomberg reports, Nvidia's investment arm NVentures is also participating in the round, which gives the company, which was founded in 2019, a valuation of 2.5 billion dollars. The funding comes just seven months after the last capital raise and follows intense competition among venture capitalists for the investment.

n8n develops software for the automation of business processes using AI agents and is thus positioning itself in an increasingly competitive market. The company competes with providers such as US-based Zapier and Canada's Gumloop. The platform enables companies to automate repetitive tasks with little to no programming effort. Using a drag-and-drop interface, users can create customized workflows that connect their databases with platforms such as Slack and Google Workspace.

Rating increased sevenfold

For example, an incoming contact form from the web can automatically send a Slack message, while processing with AI models is triggered in parallel. n8n cites examples from the areas of customer service, IT, and development on its website.

The valuation of n8n has risen from 350 million to 2.5 billion dollars since March of this year—a seven-fold increase within just a few months. According to Bloomberg, CEO Jan Oberhauser attributes this to the cost savings achieved by customers such as Vodafone. Companies have sometimes invested billions of euros in AI without seeing significant results, he says. n8n, on the other hand, is said to be convincing because it quickly leads to savings. The start-up's turnover grew tenfold last year, but he did not give any specific figures.

Platform independence as a differentiating feature

A key distinguishing feature of n8n is its connection to AI models from various providers. This flexibility sets the company apart from competitors who rely on proprietary solutions. This strategy is similar to the approach taken by orchestrated AI platforms to enable different AI components to work together in a coordinated manner.

Just this week, OpenAI introduced AgentKit, a new feature that allows software developers to create and deploy AI agents. According to n8n's investors, this could lead to the market becoming larger and the Berlin start-up gaining more new users.

AI boom drives investments to record levels

n8n is one of several start-ups in the AI sector that are currently courting investors intensively, partly with unsolicited offers. According to data from PitchBook, AI companies have raised $192.7bn in venture capital so far this year, more than half of global funding. Critics warn of a possible bubble, as the industry has barely made a profit so far.

In addition to Accel and NVentures, Deutsche Telekom and the venture capital firms Meritech, Redpoint, Evantic Capital, and Visionaries Club also participated in the financing round. The existing investors Sequoia Capital and Highland Europe also participated again.

(mki)