n8n funding: Every round, investor, and valuation (2026)

n8n makes software that connects business apps and AI models into automated workflows. Users drag building blocks onto a canvas, link them to tools such as Slack, Salesforce, or a large language model, and n8n runs the sequence on a trigger or a schedule. Companies can host it on their own servers for free under its "fair-code" license, or pay n8n for its cloud and enterprise versions.

n8n has raised about $254 million across four equity rounds since 2020, most recently a $180 million Series C led by Accel in October 2025. In May 2026, SAP bought a small stake at a $5.2 billion valuation, more than double the Series C price.

For its first five years, n8n raised little and spent slowly. Then AI agents turned it into one of Europe's fastest-growing software companies, and the money followed. Let's dive into n8n's funding history.

n8n's funding history has two halves. It raised $13.5 million in its first two rounds and then went almost four years without a new one, before raising more than 15 times that amount in the seven months from March to October 2025.

Jan Oberhauser started n8n in Berlin in 2019 and released it as a free, source-available tool for developers. The name is short for "nodemation," with the eight letters between the two n's counted out. He funded the early work himself and turned down a place at Y Combinator because the accelerator wanted the company reincorporated in Delaware.

The seed round came in March 2020. Sequoia co-led it with firstminute capital, and TechCrunch reported it was Sequoia's first seed investment in Germany. The Sequoia partner behind the deal was Matt Miller, who would return five years later with his own fund. Angels included Eventbrite co-founder Kevin Hartz and Supercell CEO Ilkka Paananen.

Felicis led the $12 million Series A in April 2021, with Sequoia and firstminute following on. n8n said it would spend the money on engineering, developer relations, and its first sales and marketing team.

In 2022, n8n replaced its old license with the Sustainable Use License, which lets anyone use and modify the code for internal business purposes but bars reselling it as a service. The same year it added AI features to the product. n8n then ran on its Series A money for almost four years, a long stretch for a venture-backed startup.

Highland Europe led a €55 million Series B in March 2025, with HV Capital joining as a new investor. TechCrunch reported that n8n's annual recurring revenue (ARR) had grown five times in the previous year and doubled in the two months before the round. More than half of its users were in the United States.

Growth from there was fast enough that investors came back within months. The Financial Times reported in July 2025 that n8n was in talks to raise more than $100 million at a valuation above $1.5 billion, with ARR of around $40 million.

Accel led the Series C in October 2025, the same week OpenAI launched AgentKit, its own tool for building AI agents. Two corporate investors joined: NVentures, Nvidia's venture arm, and T.Capital, the venture arm of Deutsche Telekom. So did Evantic, the fund Matt Miller started after leaving Sequoia.

In May 2026, SAP announced an investment in n8n at its Sapphire conference, valuing the company at $5.2 billion. Neither company disclosed the amount, but Handelsblatt reported about $60 million for a stake of roughly 1.3%, citing the German commercial register.

Trending Topics reported that the deal mixed new shares with shares bought from existing investors, so only part of it is new money for n8n. For that reason this article counts SAP's deal as a strategic investment rather than a fifth funding round, and leaves it out of the $254 million total.

n8n's valuation rose about 19-fold in 14 months, from the Series B in March 2025 to SAP's investment in May 2026. No price was disclosed for its first two rounds.

The jump from the Series B to the Series C was about ninefold in six and a half months. It came as investors rushed into AI agent companies, and as n8n's own numbers grew: the company said revenue had risen tenfold in 2025 and its user base sixfold.

At the Series C, Accel paid roughly 60 times the ARR reported that summer. The research firm Sacra estimates n8n reached about $100 million in ARR by April 2026, which would put SAP's $5.2 billion price at about 50 times revenue. n8n has not confirmed that figure.

That multiple sits in the same range as other AI software companies in 2025 and 2026. It is a sharp contrast with Zapier, n8n's best-known rival, whose founder-controlled ownership rests on a single seed round of about $1.3 million and a business funded from its own profits.

n8n's cap table mixes Silicon Valley venture firms, European growth funds, and three corporate investors that also sell its product or build on it. Oberhauser is still CEO, and his stake has not been disclosed.

Accel led the Series C, the largest round in n8n's history. Partner Ben Fletcher argued at the time that OpenAI's move into agent-building tools would "likely expand the market" rather than shrink n8n's share of it.

Accel has made a habit of backing developer-first companies that give away a core tool and charge for running it at scale. It also led or co-led three of the rounds in Vercel's funding history, a company with a similar model built around the free Next.js framework.

Sequoia is n8n's longest-standing institutional investor. It co-led the seed round and has invested in every round since. Matt Miller led the original deal and left Sequoia in 2024 after 12 years there.

Miller's new firm, Evantic, raised about $400 million for its first fund, with Sequoia among its backers. Its stake in n8n's Series C means the same partner has backed the company through two different firms.

Felicis led the Series A and followed on in the Series B and Series C. Highland Europe, a London-based growth fund, led the Series B and also returned for the Series C, as did HV Capital, the Munich fund that joined alongside it.

Each of n8n's corporate investors also has a commercial tie to it. NVentures gives n8n a link to Nvidia's chip business, and n8n offers a ready-made node for Nvidia's AI models.

Deutsche Telekom, through T.Capital, resells n8n licenses to mid-sized German companies, a partnership the two expanded in June 2026. SAP is building n8n into Joule Studio, the tool its customers use to build AI agents on top of SAP's software. SAP is itself a German company, but with no controlling shareholder its publicly traded ownership looks very different from n8n's founder-led structure.

n8n spends its funding on people and product, not on computing power. It does not train its own AI models. Its workflows call models from providers such as OpenAI and Anthropic, and customers often pay those providers directly. That spares n8n the chip bills behind OpenAI's compute-heavy funding rounds.

Headcount grew from about 60 to about 185 people during 2025, according to Tech.eu, with offices in Berlin, London, and New York. Oberhauser has said he wants n8n to be the first billion-dollar company with fewer than 500 employees.

In June 2026, n8n said its UK team had tripled in a year and that it plans to employ 200 people there by 2029. It expects the UK to be about one in five of its staff by then.

The Series C was earmarked for more integrations, tools for the community that builds custom nodes, and new ways to use n8n beyond its workflow canvas. Features added since include Evaluations, for testing how AI agents perform, and Data Tables, for storing data inside a workflow.

n8n 2.0 shipped in December 2025 with a focus on security and reliability, which large companies demand before they put automations into critical processes. n8n has not announced any acquisitions.

n8n makes money from people who would rather not run the software themselves. Its cloud plans start at €20 a month for 2,500 workflow runs, and a self-hosted Business plan with single sign-on and version control costs €667 a month. Large customers negotiate Enterprise contracts.

Every plan includes unlimited users and workflows, and n8n charges by the number of workflow runs rather than by the number of steps. That pricing undercuts Zapier, which charges per task, for workflows with many steps. n8n does not disclose its profit or cash burn.

n8n is moving from developers and small teams toward large companies. It reported more than 1,400 enterprise customers and 1.7 million monthly active builders at the time of the SAP deal, and says more than a third of the Fortune 500 use it. SAP's Joule Studio and Deutsche Telekom's reseller deal give it sales channels into large and mid-sized European companies, while the United States remains its fastest-growing market.

The product is shifting from simple automations to coordinating AI agents inside companies, which pits n8n against Zapier, Make, Microsoft Power Automate, and OpenAI's AgentKit. Its pitch is control: customers can keep data on their own servers and mix fixed workflow steps with AI decisions. That pitch depends on companies spreading their AI work across several model providers rather than consolidating on one lab. The labs want the opposite, and agent tools are now part of how Anthropic sells Claude.

Oberhauser told Tech.eu in December 2025 that he wants a European listing, ideally in Germany, but is "not in a rush to IPO anytime soon." The main risks are security, after a maximum-severity flaw disclosed in January 2026 let attackers take over unpatched self-hosted servers, and a valuation that assumes n8n keeps growing several times a year. The next round will likely test whether that growth holds, at a time when AI companies take about half of all global startup funding.

n8n has raised about $254 million in equity across four rounds since 2020, most recently a $180 million Series C in October 2025. n8n itself gave a rounded total of $240 million at the time of the Series C. SAP's 2026 investment, reported at about $60 million, is not included because part of it bought shares from existing investors.

n8n's lead investors are Accel, Sequoia Capital, Felicis, firstminute capital, and Highland Europe. Other backers include HV Capital, Meritech, Redpoint, Evantic, Visionaries Club, Harpoon Ventures, NVentures (Nvidia), T.Capital (Deutsche Telekom), and SAP.

n8n was valued at $5.2 billion when SAP invested in May 2026. That is up from $2.5 billion at the Series C in October 2025 and about $270 million at the Series B in March 2025.

No. n8n is private and has not filed for an IPO. CEO Jan Oberhauser has said he would prefer a European listing, ideally in Germany, but is not in a rush.

n8n is owned by its founder, employees, and investors. Founder and CEO Jan Oberhauser still leads the company, and the largest outside holders are likely Sequoia, Accel, Felicis, and Highland Europe. SAP owns about 1.3%, according to Handelsblatt. Other stakes are not public.