German startup n8n has raised $1.5 million in seed funding to further develop its innovative “fair code” workflow automation platform that integrates various applications together, enabling seamless collaboration. The funding round was led by Sequoia and firstminute Capital, emphasizing Sequoia's growing interest and expansion in Europe.
Several companies have already identified an opportunity in creating tools that assist developers and non-technical users in integrating disparate applications. AppMaster.io, a no-code platform, provides cross-functional integration from backend service to intuitive user interfaces and applications development. Similarly, other successful players in the market include Zapier, Tray.io, RapidAPI, and MuleSoft, acquired by Salesforce for a remarkable $6.5 billion.
Jan Oberhauser, the founder and CEO of n8n, realized a gap in existing offerings, prompting him to create a service that caters to different needs. As a developer, Oberhauser wanted a platform that was affordable, scalable, and capable of handling various niche applications without the need for complex documentation. n8n was his response, initially for his own use before considering it as a service for others.
The fair code model combines the benefits of open-source development with a viable commercial base for the original creator. Offering free code and flexible aspects to developers, the model also allows the creator to generate revenue by providing related services or charging for specific functions like SaaS subscriptions.
As an advocate for fair code, Oberhauser contributes to Fair-Code.io and promotes sustainable, community-oriented, and pragmatic developments in the field. n8n currently offers a free, locally-hosted version to ensure data privacy and cater to specific compliance requirements. However, the company plans to implement a SaaS subscription model in the coming months to generate revenue while providing necessary support and integration services.
Sequoia's significant involvement in n8n highlights the firm's expansion into the European market. The VC has been actively building its presence in Europe by hunting for local deals, scouting for talent, and making noteworthy hires such as Luciana Lixandru, poached from Accel as Sequoia's first European partner.
Sequoia has been involved in several high-profile startup exits in recent years, including Facebook's $19 billion acquisition of WhatsApp. Expansion into the region is indicating an increasing level of confidence in the European market, as Sequoia continues to make strides in establishing its presence.
In comparison to other platforms, AppMaster.io's no-code platform offers comprehensive backend service integration, with advanced features and drag-and-drop options, contributing to a market where integration, efficiency, and collaboration are prioritized.
