n8n raises $12m Series A for its ‘fair-code’ workflow automation tool
n8n, the next-gen workflow automation tool, today announced it has raised $12m Series A led by Felicis Ventures. Seed stage investors including Sequoia Capital and firstminute Capital, and Harpoon Ventures also participated. The company now has a network of angels including Kevin Hartz, Co-Founder of Eventbrite, Ilkka Paananen, Supercell CEO and Founder and early employees of Google and Zendesk among others.
n8n’s funding comes amid a surge of interest in the no code space. “We think no code tools will be the primary mode through which custom software is built and processes automated in the future,” says Aydin Senkut, Founder and Managing Partner of Felicis Ventures, and lead for the investment. “Jan is building a strong team with incredible momentum to bring n8n’s next-generation open workflow automation solution to a growing community of developers across multiple industries.” Gartner predicts 65% of all software development will take place on low-code platforms by 2024.
“Our mission is to give everyone who uses a computer technical superpowers”, says Jan Oberhauser, n8n’s Founder and CEO. “However, our strong belief is that in future, everyone will be a citizen developer: we already see technical skills massively increasing among the general population. So it makes sense to build a more powerful solution targeted at technical users”.
One of the factors making the product powerful is its extensibility: users can add custom functions, logic and apps in order to automate complex tasks and business processes. It offers API connectors to more than 200 different apps, and users can add their own or extend existing connectors via the source code, which is accessible. In addition to automating business processes, the product can also be used as a backend for low code products or services.
Since its launch, n8n has attracted a community of 16,000 users, contributors and advocates. It aims to enable developers and citizen developers everywhere to get started with its free, self-hosted product. It generates revenue via n8n.cloud, a recently launched hosted version targeting SMBs, and n8n.embed, through which creators building software products can embed n8n’s code to accelerate product development and reduce maintenance burden via a separate license agreement. With the new funding, n8n plans to invest in its product, and to build its team, hiring across functions including engineering, developer relations, sales and marketing, all based in Berlin.