n8n valuation set to rise to $2.3 billion

The $2.3 billion valuation, up from roughly $350 million just four months ago, is pre-money, representing the value of the company before the new investment.

The venture capital firm Accel is leading a funding round for the German artificial intelligence (AI) startup n8n that would exponentially raise the valuation of the company to $2.3 billion, sources familiar with the situation said.

Accel beat vying offers from several investors including Insight Partners to lead the latest round, which is expected to raise hundreds of millions of euros for Berlin-based n8n, the sources said, asking not to be identified because the information is private. The $2.3 billion valuation, up from roughly $350 million just four months ago, is pre-money, representing the value of the company before the new investment, the sources said.

Meritech Capital, a Palo Alto, California-based firm, is also expected to participate, one of them said. Accel and Insight declined to comment. N8n and Meritech did not respond to requests for comment.

Just in the past two months, the French startup Mistral AI was in talks to raise as much as $1 billion in equity. Helsing, the German startup building AI for drones, more than doubled its valuation to 12 billion euros. And the Swedish AI programming firm Lovable raised $200 million to become a unicorn.

N8n itself has seen rapid growth in recent months. It has surpassed $40 million in annual recurring revenue, according to one of the sources, emerging as a breakout player in Europe’s fast-growing AI application ecosystem.

The company sells software designed to automate tasks for businesses, pitching its products as an easy means of incorporating so-called AI agents that can perform a multitude of duties on their own. Agents have been widely seen as the next frontier of AI, following chatbots.