AI agent startup N8n has secured term sheets from Accel and Insight Partners as VCs bid for a stake in the company’s hotly contested Series C.
N8n, which automates workflows for enterprises, is one of a new wave of European agentic AI startups. The company is said to have received more than ten term sheets as it looks to raise fresh funds, just four months on from a €55m Series B in March.
US investors Accel and Insight are among that number, according to two sources familiar with the talks. Those people said Insight’s term sheet valued N8n at close to $3bn.
Sifted previously reported some VCs had offered a term sheet with a valuation of north of $2bn.
The Berlin-based startup is building a platform which can implement AI agents in enterprises and connect the data sources and apps they use.
The fresh funding could reach upwards of $100m, according to an article from the Financial Times last week. The publication also reported that the startup generated about $40m in annual recurring revenues (ARR), citing people familiar with the fundraising talks.
Founded in 2019, N8n has raised $74m, according to Dealroom, from VCs including Sequoia, Firstminute Capital, Highland Europe and HV Capital.
Accel, Insight and N8n have been approached for comment.
The German startup said in March it had more than 230,000 active users, 3k enterprise customers and grew ARR fivefold in 2024. Customers include Vodafone, Delivery Hero and Microsoft, according to its website.
N8n is part of a wave of European startups building AI applications — tools that are built around frontier models created by other providers like OpenAI and Anthropic — that have raised big in recent months.
In total AI-native startups in Europe have picked up €4bn so far this year, according to Sifted data — already topping the €3.4bn invested across the whole of last year.
Read the orginal article: https://sifted.eu/articles/n8n-secures-offers-accel-insight/
