---
title: "Notion revenue and valuation"
description: "Notion's ARR is estimated at $830M–$1.2B, last reported at $750M. Valued at $10.3B after raising $343M. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/notion.md
canonical_url: https://www.tryspecter.com/revenue-valuation/notion
publisher: Specter
last_updated: 2026-11-01
---

# Notion revenue and valuation

Specter estimates Notion's annual revenue at $830M to $1.2B and its valuation at $8.12B to $19.7B. The company last reported $750M ARR in November 2026 and was priced at $10.3B in October 2021.

Notion provides a customizable cloud workspace for notes, tasks, databases, and team collaboration.

- Estimated revenue: $830M to $1.2B (October 2026)
- Estimated valuation: $8.12B to $19.7B (October 2026)
- Last reported ARR: $750M (November 2026)
- Total funding: $343M
- Founded: 2010
- Headquarters: San Francisco, United States
- Employees: 7,137
- Sector: Productivity
- Specter Rank: #2,657

## Notion revenue

Notion grew from $600M ARR in December 2025 to $750M in November 2026. Specter's model puts current ARR between $830M and $1.2B, anchored to two reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $750M ARR | November 2026 | [Notion has 100 million users, an $11 billion valuation, and more than $750 million in annual recurring revenue](https://www.linkedin.com/posts/incmagazine_httpslnkdinezxtr4n9-notion-has-activity-7526237386306076672--PfQ) (linkedin.com) |
| $600M ARR | December 2025 | [Sources: Notion told staff it is doing a $300M tender offer at an $11B valuation, ahead of a potential IPO; it passed $600M in ARR, half of…](https://x.com/Techmeme/status/2000677784163660148) (x.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $1B | $830M | $1.2B |
| September 2026 | $950M | $480M | $1.89B |
| August 2026 | $900M | $550M | $1.48B |
| July 2026 | $860M | $450M | $1.64B |
| June 2026 | $820M | $530M | $1.24B |
| May 2026 | $770M | $530M | $1.14B |
| April 2026 | $740M | $520M | $1.04B |
| March 2026 | $700M | $510M | $950M |
| February 2026 | $660M | $510M | $870M |
| January 2026 | $630M | $500M | $790M |
| December 2025 | $600M | $500M | $720M |
| November 2025 | $560M | $440M | $730M |
| October 2025 | $530M | $430M | $660M |
| September 2025 | $500M | $420M | $600M |
| August 2025 | $480M | $340M | $690M |
| July 2025 | $470M | $320M | $680M |
| June 2025 | $450M | $320M | $630M |
| May 2025 | $440M | $310M | $620M |
| April 2025 | $420M | $186M | $970M |
| March 2025 | $410M | $280M | $600M |
| February 2025 | $400M | $280M | $570M |
| January 2025 | $380M | $172M | $860M |
| December 2024 | $370M | $260M | $530M |
| November 2024 | $360M | $260M | $500M |
| October 2024 | $350M | $260M | $460M |
| September 2024 | $340M | $260M | $430M |
| August 2024 | $330M | $230M | $460M |
| July 2024 | $310M | $240M | $410M |
| June 2024 | $300M | $240M | $390M |

## Notion valuation

Notion's valuation rose from $818M at its Series A in July 2019 to $10.3B at its Series C in October 2021. Specter's live estimate sits between $8.12B and $19.7B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $12.6B | $8.12B | $19.7B |
| September 2026 | $11.6B | $7.88B | $17B |
| August 2026 | $11.3B | $8.01B | $16B |
| July 2026 | $11.6B | $8.32B | $16.1B |
| June 2026 | $10.3B | $7.77B | $13.7B |
| May 2026 | $10.8B | $8.24B | $14.1B |
| April 2026 | $11B | $8.6B | $14.1B |
| March 2026 | $10.9B | $8.83B | $13.4B |
| February 2026 | $11B | $9.15B | $13.2B |
| January 2026 | $3.37B | $2.14B | $6.12B |
| December 2025 | $2.57B | $1.82B | $4.45B |
| November 2025 | $2.76B | $1.42B | $5.35B |
| October 2025 | $2.77B | $1.56B | $5.53B |
| September 2025 | $2.56B | $1.63B | $5.07B |
| August 2025 | $2.58B | $1.64B | $4.98B |
| July 2025 | $2.67B | $1.67B | $4.94B |
| June 2025 | $2.98B | $1.76B | $5.36B |
| May 2025 | $3.14B | $1.79B | $5.75B |
| April 2025 | $3.12B | $1.78B | $5.7B |
| March 2025 | $3.23B | $2.06B | $5.91B |
| February 2025 | $3.16B | $2.22B | $5.79B |
| January 2025 | $3.04B | $2.11B | $5.8B |
| December 2024 | $2.76B | $2.17B | $5.27B |
| November 2024 | $2.77B | $1.98B | $5.03B |
| October 2024 | $2.78B | $1.84B | $4.93B |
| September 2024 | $10.8B | $6.36B | $18.2B |
| August 2024 | $10.7B | $6.25B | $18.5B |
| July 2024 | $10.7B | $6.1B | $18.9B |
| June 2024 | $10.7B | $6.88B | $16.7B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $11B | February 2026 | [linkedin.com](https://www.linkedin.com/posts/taehee-tay-kim-573289194_gic-sequoia-index-purchase-notion-shares-activity-7430416550287028225-sJCY) |
| $10.3B | October 2021 | Funding round |
| $2B | April 2020 | Funding round |
| $818M | July 2019 | Funding round |

## Notion funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 15 Dec 2025 | Secondary | Undisclosed | Undisclosed | Undisclosed |
| 8 Oct 2021 | Series C | $275M | $10.3B | Sequoia Capital, Coatue |
| 2 Apr 2020 | Series B | $50M | $2B | Index Ventures |
| 8 Jul 2019 | Series A | $18.2M | $818M | Undisclosed |
| 1 Mar 2018 | Seed | Undisclosed | Undisclosed | Undisclosed |
| 1 Jan 2017 | Angel | Undisclosed | Undisclosed | Undisclosed |
| 3 Oct 2016 | Seed | Undisclosed | Undisclosed | Undisclosed |
| 1 Apr 2013 | Seed | Undisclosed | Undisclosed | First Round Capital |

## Notion vs competitors

The workspace software market divides between high-structure project management and flexible knowledge documentation.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Notion | $830M–$1.2B | $8.12B–$19.7B |
| monday.com (monday.com) | $1.09B–$1.71B | $2.03B–$5.04B |
| ClickUp (clickup.com) | $260M–$630M | $1.63B–$3.56B |
| Airtable (airtable.com) | $390M–$700M | $4.41B–$7.42B |
| Coda (coda.io) | $7.9M–$29M | $48M–$330M |

## Questions

### What is Notion's revenue?

Specter estimates Notion's annual recurring revenue at $830M to $1.2B as of October 2026. Notion last reported $750M ARR in November 2026, up from $600M in December 2025.

### What is Notion's valuation?

Notion's latest post-money valuation is $10.3B, from an October 2021 Series C. Specter's live estimate is $8.12B to $19.7B.

### How much funding has Notion raised?

$343M across eight rounds, from a Seed in April 2013 to a Secondary in December 2025.

### Who invested in Notion?

43 investors, including Coatue, First Round Capital, Index Ventures and Sequoia Capital.

### Who are Notion's competitors?

monday.com, ClickUp, Airtable and Coda. Specter ranks 29 competitors for Notion.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Notion revenue and valuation." tryspecter.com/revenue-valuation/notion. Updated November 2026.