Fundraising Fox

Notion Labs

Unicorn · $10.5B

San Francisco, US · Delaware corporation · 2 known investors

Notion Labs builds Notion, an all-in-one collaborative workspace for notes, wikis, databases, projects and AI agents.

Also known as Notion · Notion Labs Inc · Notion Labs, Inc.

Founders & leadership

SL
Simon LastFounder
AK
Akshay KothariExecutive
HZ
Huan ZhouNamed on SEC filing

Investors · 2

Reported raises · per SEC filings

Form D private placements

$327M disclosed across 3 of 5 rounds · 2013–2021

▶$260MraisedOct 2021 · 4 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Huan ZhouExecutive Officer, Director
  • Akshay KothariExecutive Officer
  • Simon LastExecutive Officer
Offering amount
$275M
Amount sold
$260M
First sale
Sep 2021
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$48.8MraisedApr 2020 · 10 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Simon LastExecutive Officer
  • Huan ZhouExecutive Officer, Director
  • Akshay KothariExecutive Officer
Offering amount
$50M
Amount sold
$48.8M
First sale
Mar 2020
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$18.2MraisedJul 2019 · 41 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Huan ZhouExecutive Officer, Director
  • Akshay KothariPromoter, Executive Officer
  • Simon LastExecutive Officer
Offering amount
$18.7M
Amount sold
$18.2M
First sale
Jul 2019
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Valuation · disclosed

Disclosed events
$10Bvaluation at Series COct 2021
filing ↗
$2Bvaluation at Series A / $50M roundJan 2020
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

Company profile

researched Aug 2026

Notion Labs, Inc. is a San Francisco-based software company that develops Notion, a productivity and note-taking application first released in 2016. The product functions as a workspace for note-taking, knowledge management, data organization, and project and task tracking, and is available on the web and as desktop and mobile apps for Windows, macOS, Android and iOS, with localization into a range of European and Asian languages. Content in Notion is composed of "blocks" that can hold text, images, subpages and databases; databases can be rendered as tables, lists, calendars and timelines. The platform also includes kanban boards, wikis, and a library of free and paid templates.

The company has layered artificial-intelligence functionality onto the core workspace. Notion AI, released as a chatbot service in February 2023, assists with writing, summarization, tone adjustment and translation. In September 2025 Notion launched version 3.0 with an AI agent feature, and in May 2026 it introduced the Notion Developer Platform, comprising Workers (a sandboxed cloud environment for custom code), database sync from external systems such as Salesforce and Zendesk, and integration with external coding and support agents including Claude Code, Cursor, Codex and Decagon. The company reported that users had built more than one million Custom Agents since that capability launched in February 2026.

Adjacent products have included Notion Calendar, launched on 17 January 2024 as the company's first standalone app and derived from the acquired Cron calendar application, and Notion Mail, a Gmail-based email client with AI integration released in April 2025 and built largely on infrastructure and staff obtained through the Skiff acquisition. Notion announced in June 2026 that Notion Mail would be discontinued on 22 September 2026 in favor of agent-driven email workflows.

Founding story

Sources state that Notion Labs, Inc. was created as a startup in San Francisco, California, in 2013. Wikipedia lists the founders as Ivan Zhao, Akshay Kothari, Chris Prucha, Jessica Lam, Simon Last and Toby Schachman, while Preqin omits Kothari from the founder list and two secondary profiles name only Ivan Zhao and Simon Last, with Zhao as CEO. Those secondary accounts describe the founders' intent to build "LEGO-style" software that non-technical users could customize without code. The company was initially funded by a seed round of roughly $2 million and encountered financial difficulty during early development; secondary accounts state the team concluded in 2014 that it was on the wrong technology stack, let go of its four employees in 2015, relocated to Japan to focus on development, and that Zhao borrowed $150,000 from his mother to keep the company alive.

Business model

Notion operates a business-to-business software model, selling its workspace platform directly to organizations rather than through resellers, alongside free and paid individual plans. Preqin describes subscription-based services with tiered monthly or annual pricing corresponding to feature and support levels; an enterprise edition adds security controls and automated user-account provisioning for large organizations.

Revenue comes from subscription plans. A 2021 profile lists a free Personal tier (originally limited to 1,000 blocks, a cap later removed), Personal Pro at $4/month billed annually or $5/month, Team at $8/month billed annually or $10/month, and custom-priced Enterprise plans. Notion AI and other add-on capabilities sit within the same paid workspace structure.

Traction

Reported user milestones progress from 1 million users (September 2019) to 4 million (2020, per secondary profiles), 20 million (October 2021) and over 100 million users globally per Preqin. At the October 2021 round the company said its user base had grown 500% since the prior round and that its enterprise edition was growing 350% year over year. Preqin cites adoption by Fortune 100 companies and more than half of Y Combinator startups; secondary profiles state a 2022 growth rate of 240%.

Latest developments

In May 2026 Notion launched the Notion Developer Platform with Workers, external database sync and third-party agent integration, and reported more than one million user-built Custom Agents since February 2026. On 25 June 2026 the company announced it would shut down Notion Mail across web, desktop and iOS on 22 September 2026, stating that more than half of Notion Mail users already manage email through agents without opening the inbox; HIPAA-regulated users were told to transition off by 30 June 2026. Preqin reports that in July 2026 Notion AI, Inc. acquired ZeroEntropy, Inc. to integrate its AI search technology and team.

▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Notion is positioned as a consolidated alternative to multiple single-purpose productivity tools, competing in knowledge management and collaboration; one secondary account frames it as competing with Atlassian, and its email and calendar products were positioned against Superhuman, Fyxer and Calendly. It was valued at $10 billion in October 2021 and, per Preqin, at approximately $10.48 billion as of that profile, and was named to the Forbes AI 50 list in April 2025.

Sources emphasize customizability: a block-based, no-code structure that lets non-technical users assemble documents, databases and workflows in one environment, replacing several separate productivity tools with a single cloud workspace accessible via one sidebar index. More recently the company differentiates on embedded AI agents that can execute work inside the workspace and interoperate with external agents.

Technology

The product is built around a block-based document model in which each line or paragraph is a block that can contain text, media, subpages or databases, with database views such as tables, lists, calendars and timelines. Generative AI features provide question answering over workspace content, writing assistance, summarization and autofill. The 2026 Developer Platform adds Workers, a secure sandbox for running custom code in the cloud, live database sync from external SaaS systems, and interoperability with third-party coding and support agents.

Go-to-market

Growth has been driven largely by bottom-up, word-of-mouth adoption from a free tier and a template/creator community, layered with a paid enterprise edition targeting larger organizations. Supporting programs described in sources include a startup program launched in September 2021 offering new companies up to $500 in credit, partner arrangements with Amazon Web Services and Stripe offering user discounts of up to $1,000, and the Notion Certified accreditation program introduced in early 2022.

Individual users, small teams and enterprises across technology, finance, marketing and education. Named or described customers include IBM, Samsung, Spotify, Pixar, Cornershop, TravelPerk and Headspace; Preqin states adoption among Fortune 100 companies and more than 50% of Y Combinator startups.

Geography

Headquartered in San Francisco, California. Preqin lists availability across North America, Europe and Asia and notes plans to expand into new markets in Asia and Europe. The product is localized into 17 listed languages including French, German, Japanese, Korean, Spanish, Chinese (Simplified and Traditional), Thai, Vietnamese and Indonesian. Acquisition activity has included India-based Automate.io.

History

Notion 1.0 was released in 2016 (Wikipedia dates the release to August 2016; a secondary profile says March 2016 and cites a #1 Product Hunt ranking), followed by Windows and iOS releases in 2017 and Notion 2.0 in March 2018, at which point the company had fewer than 10 employees. Notion reached 1 million users in September 2019 and raised $50 million at a $2 billion valuation in January 2020 (reported by The New York Times in April 2020), the same year it removed the 1,000-block cap on free accounts. It acquired Automate.io in September 2021 and raised $275 million at a $10 billion valuation in October 2021 with 20 million users. Subsequent milestones include the Cron acquisition (June 2022), Notion AI (February 2023), Notion Calendar (January 2024), the Skiff acquisition (February 2024), Notion Mail (April 2025), inclusion in the Forbes AI 50 list (April 2025), Notion 3.0 with AI agents (September 2025), the Notion Developer Platform (May 2026), and the announced shutdown of Notion Mail (September 2026).

Risks & controversies

The Notion Mail shutdown requires users to manually export drafts, scheduled emails, snippets and auto-label instructions, and follows the earlier retirement of Skiff's encrypted email service and @skiff.com addresses within a year of that acquisition, with Skiff accounts not automatically migrated to Notion. Commentary notes that Notion Mail did not preserve Skiff's end-to-end encryption, and that it remains untested whether an agent-first model can handle the full complexity of professional email. Source data is also inconsistent on founder lists, founding-team size, total funding raised ($327.03M per Preqin versus $343.2M in secondary profiles) and the precise 2016 launch month.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Custom agents built by usersMay 20261,000,000 agents
EmployeesJan 2024533 people
Enterprise edition YoY growthOct 2021350%
Registered usersJan 2026100,000,000 users
Share of Notion Mail users managing email without opening the inboxJun 202650%
Total funding raisedJan 2026$327M
User base growth since prior roundOct 2021500%
ValuationJan 2026$10.5B

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 17

launches, deals, and filings
Jul 2026
Notion AI, Inc. acquired ZeroEntropy, Inc.

Per Preqin, Notion AI, Inc. acquired ZeroEntropy, Inc. to integrate its AI search technology and team into Notion's product and research efforts.

source ↗

Jun 2026
Notion Mail shutdown announced for 22 September 2026

Notion said it would discontinue Notion Mail across web, desktop and iOS on 22 September 2026 in favor of agent-run email workflows; users must export drafts, scheduled emails, snippets and auto-label rules, HIPAA users were told to move off by 30 June 2026, and existing email agents continue to operate.

source ↗

May 2026
Notion Developer Platform launched

Introduced Workers (sandboxed cloud code execution), database sync from external sources such as Salesforce and Zendesk, and integration with external agents including Claude Code, Cursor, Codex and Decagon.

source ↗

Sep 2025
Notion 3.0 launched with AI agents

source ↗

Apr 2025
Named to the Forbes AI 50 list

source ↗

Apr 2025
Notion Mail released

Gmail-based email client with Notion AI integration for drafting replies, scheduling meetings and searching messages, positioned against Superhuman and Fyxer.

source ↗

Feb 2024
Acquired Skiff

Acquisition of the privacy-focused, end-to-end encrypted productivity and email startup Skiff, founded in 2020 by Andrew Milich and Jason Ginsberg, which had raised $14.2 million and had close to 2 million users; its infrastructure and team underpinned Notion Mail.

source ↗

Jan 2024
Notion Calendar launched

First standalone Notion app, offering deeper workspace integration and a Calendly-like scheduling tool.

source ↗

Feb 2023
Notion AI released

AI chatbot and writing-assistance service made available within the workspace.

source ↗

Jun 2022
Acquired Cron calendar app

Notion acquired the calendar application Cron, which it later developed into Notion Calendar.

source ↗

Oct 2021
$275 million round led by Coatue and Sequoia Capital at $10 billion valuation

$275M source ↗

Sep 2021
Startup program and AWS/Stripe partnership

Launched a program giving early-stage companies up to $500 in credit and announced a partnership with Amazon Web Services and Stripe including discounts of up to $1,000 for new users.

source ↗

Sep 2021
Acquired Automate.io

Acquisition of the India-based integrations startup Automate.io to accelerate product expansion.

source ↗

May 2020
Unlimited blocks on the free plan

Notion removed the previous 1,000-block limit for users on its free plan.

source ↗

Jan 2020
$50 million round led by Index Ventures at $2 billion valuation

$50M source ↗

Mar 2018
Notion 2.0 released

Major product update released when the company had fewer than 10 employees.

source ↗

Jan 2016
Notion 1.0 released

First release of the Notion workspace app; Wikipedia dates it to August 2016 while a secondary profile says March 2016 and reports a #1 Product Hunt ranking.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
Notion LabsDelaware

In the news

▸Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Notion Labs do?
Notion Labs builds Notion, an all-in-one collaborative workspace for notes, wikis, databases, projects and AI agents.
Who founded Notion Labs?
Notion Labs was founded by Simon Last.
Who are Notion Labs's investors?
Notion Labs's investors include Felicis Ventures, G Squared.
How much funding has Notion Labs raised?
Notion Labs has disclosed $327M raised across 3 of its 5 known rounds.
Where is Notion Labs headquartered?
Notion Labs is headquartered in San Francisco, US.