Workflow automation systems are catching up rapidly due to the success of many workflow-based innovations in practice.
According to a report, the workflow automation market is expected to reach $18.45B (approx €15.27B) by 2023, at a CAGR of 23.56 per cent between 2017 and 2023.
Based out of Berlin, n8n, the next-gen workflow automation tool is poised to play a key role in the booming market.
Recently, the German company raised $12M (approx €9.9M) funding in a Series A round 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 plans to invest funds in its product and to build its team. The company is hiring across functions including engineering, developer relations, sales, and marketing, all based in Berlin.
“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.”
Fair code, self-hosted workflow automation tool
Founded by Jan Oberhauser in 2019, n8n is a free and open node-based workflow automation tool. It can be self-hosted, easily extended, and used with third-party web applications or custom in-house tools to automate repetitive tasks.
With the platform, anyone can build multi-step workflows that combine both third-party applications and their internal tools.
By facilitating the synchronisation of data across these normally independent systems, n8n enables users to create easy-to-use automation that snap together all the pieces of their workflows.
API connectors to over 200 different apps
The platform offers API connectors to more than 200 different apps as well. Besides automating, the product can be used as a backend for low-code products or services.
Since its inception, the platform has attracted a community of 16,000 users, contributors, and advocates.
The German company generates revenue via n8n.cloud , a 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.
n8n in their official blogpost, mentions, “In the next few months, we will focus on building a more powerful solution targeted at tech-savvy users, responding to our customers’ requests and business use cases. Currently, we are working on several new nodes and features, on the way to releasing n8n 1.0. Moreover, we will be introducing a user management system and certification courses that acknowledge your n8n skills.”