Notion company profile: valuation, funding & revenue

This Notion company profile covers the company's valuation, revenue, funding rounds, investors and history. Notion works in productivity software, with a focus on connected workspace and AI. It was founded in 2013 and is headquartered in San Francisco, California, United States. Its latest valuation on record is US$11 billion (employee tender offer) (January 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Notion timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2013 — Notion is founded in San Francisco by Ivan Zhao (CEO) and Simon Last.
• Jan 2026 — Employee tender offer: About US$270M, valuing the company at US$11B. Investors: GIC (new), Sequoia Capital, Index Ventures.
• End of 2025 — AI share of ARR: More than 50% of ARR came from AI-enabled customers at the end of 2025, more than double a year earlier.

Investors

Overview

Notion is a workspace app that combines notes, documents, wikis, project management and databases in one flexible tool. Individuals use it to organise their lives and studies; companies use it as an internal wiki, a place to plan projects and a shared home for documents. Since 2023 it has added AI features throughout the product, from writing and summarising to searching across a company's connected apps, and AI has become central to its growth.

Ivan Zhao and Simon Last founded Notion in 2013. The early years were difficult: the first version didn't work as intended, and the small team famously moved to Kyoto, Japan, to rebuild the product cheaply before relaunching in 2016. Notion grew largely through word of mouth, templates shared by users, and a strong community, rather than heavy advertising. Zhao is the CEO, and the company is based in San Francisco.

How Notion makes money

Notion uses a freemium model:

• Free plan: for individuals, with generous limits that keep millions of people using the product.
• Plus and Business plans: per-seat subscriptions for teams, adding collaboration, more storage and administrative features.
• Enterprise: larger contracts with advanced security, compliance controls and support.
• AI: Notion's AI features, now bundled into its higher-priced business plans, help raise revenue per seat.

A typical path is that one person starts using Notion for free, introduces it to a team, and the company later buys a paid plan. That bottom-up adoption keeps sales and marketing costs lower than for many enterprise software companies.

Valuation and the 2026 tender offer

In January 2026, Notion's chief financial officer, Rama Katkar, announced that the company had completed a tender offer of about US$270 million at an US$11 billion valuation. New investor GIC, Singapore's sovereign wealth fund, joined returning investors Sequoia Capital and Index Ventures in buying shares from current and former employees. Reports said Notion waived the usual one-year vesting cliff for current employees' options so that almost all staff could take part.

The US$11 billion figure was a modest step up from the US$10 billion valuation set in late 2021. As with many software companies, Notion spent the years after 2021 growing into a valuation set at the market peak. A tender offer like this gives employees cash without the company raising new money or going public.

Revenue and AI

Notion doesn't publish full financial statements, so we show its revenue as not disclosed. What the company has said is that growth accelerated in 2025, and that more than half of its annual recurring revenue at the end of 2025 came from customers using its AI features. That share had more than doubled in a year. Press reports and research firms have published estimates of its recurring revenue in the hundreds of millions of dollars; those figures vary and haven't been confirmed in full by the company.

The AI share matters because it shows customers paying for more expensive plans, and it suggests AI features are helping Notion compete with larger rivals rather than being commoditised by them.

Product strategy

Notion has steadily expanded beyond documents. It launched Notion Calendar after acquiring the calendar app Cron, added Notion Mail, and built AI tools that can search across connected apps such as Slack, Google Drive and GitHub. It has also introduced AI agents that can carry out multi-step work inside a workspace, such as compiling reports or updating project databases. The goal is to become the single place where a team's knowledge and work live, which increases how much each customer relies on it.

Competitive landscape

Notion competes with Microsoft (Loop, OneNote and Copilot inside Microsoft 365), Google Workspace, Atlassian's Confluence, project management tools such as Asana, Monday.com and ClickUp, and newer AI-native productivity apps. Its advantages are a product many people genuinely like, a large template ecosystem, and strong bottom-up adoption. Its main challenge is that Microsoft and Google can bundle similar features into suites that companies already pay for.

What to watch next

Watch whether Notion discloses revenue milestones, the take-up of AI agents and enterprise plans, new products such as Mail and Calendar, any new tender offer or funding round, and IPO preparation. Notion has a long history of capital efficiency, so it has no pressing need to list.

Key facts at a glance

Notion is a San Francisco productivity software company founded in 2013 by Ivan Zhao and Simon Last. It completed a roughly US$270 million employee tender offer at an US$11 billion valuation in January 2026, with GIC, Sequoia Capital and Index Ventures as buyers. More than half of its ARR at the end of 2025 came from AI-enabled customers.

Why bottom-up software spreads so efficiently

Most enterprise software has historically been sold top-down: a sales team convinces executives, who roll the product out to staff. Notion grew the other way around. Individuals adopt it because they like it, bring it into their teams, and eventually the company pays. This approach has several advantages. It reduces the cost of acquiring customers, because users do much of the selling. It produces strong loyalty, since people chose the tool themselves. And it creates natural expansion: as more teams adopt it, the company pays for more seats. That's one reason companies like Notion can show high net revenue retention.

The weakness is that large companies eventually want security, administration and compliance controls, and they negotiate hard on price. Successful bottom-up companies have to build an enterprise sales motion on top of their self-serve base, which Notion has done in recent years.

What employees should know about tender offers

For employees, a tender offer is a chance to turn some equity into cash before an IPO. Things to understand before selling: the price per share and how it compares with the last funding round; any limit on how much each person can sell; the tax treatment of options versus shares; and whether selling now means giving up future gains if the company's value rises. Notion's decision to waive the vesting cliff was unusual and meant even recent hires could participate. Our guide to employee option pools explains how employee equity is typically structured.

What this means if you're…

A team choosing a workspace tool: compare Notion with suite tools on AI features, permissions, integrations and total cost per seat.

A SaaS founder: Notion shows how a loved product and community can drive growth with modest marketing spend.

An investor: the tender offer price is the best public marker of value; watch for revenue disclosures to judge the multiple.

Latest developments (October 2026)

Notion's January 2026 tender offer let current and former employees sell about US$270 million of shares at an US$11 billion valuation to Sequoia, Index Ventures and new investor GIC, according to Notion. Reports at the time said its annual recurring revenue had passed US$600 million, with AI features driving much of it, and that it was considering an IPO as early as the end of 2026. Third-party estimates put recurring revenue higher by mid-2026.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Notion