OpenAI's public launch of ChatGPT in November 2022 is widely viewed as the event that kicked off the generative AI boom, which remains the dominant theme in the tech industry almost three years later.
Notion jumped on the bandwagon early.
Two weeks before ChatGPT hit the market, the productivity software startup announced its own artificial intelligence feature using an OpenAI model. Notion AI was designed to be a "writing assistant" that could help a user with brainstorming, editing and summarizing, the company said.
"We're at an important inflection point," CEO Ivan Zhao wrote in a blog post at the time. "The potential of artificial intelligence has grown exponentially, and will continue to grow."
The AI wave has pushed Notion past $500 million in annualized revenue, the company now tells CNBC, which ranked the company 34th on its 2025 Disruptor 50 list. The latest developments landed on Thursday as Notion launched a customizable agent that can create documents to pull in data from many sources, using models from the likes of OpenAI and Anthropic.
Akshay Kothari, Notion's co-founder and operating chief, said in an interview that the company is racing to keep up with enterprise demand for AI tools. Corporate clients include Kaiser Permanente, Mitsubishi Heavy Industries, Nvidia and Volvo Cars.
"We're doubling this year and likely going to double the sales team next year," Kothari said. He added that about 90% of the business comes from "multiplayer usage," or teams of workers.
Notion was founded in 2013, two years before OpenAI was created as a nonprofit AI lab. The company, which now has about 1,000 employees, launched the first version of its product in 2016 and says it has over 100 million users.
But unlike most startups that have boomed with the rise of generative AI, Notion hasn't raised outside capital in a long time. Its most recent fundraising round came in 2021, when the big driver for cloud-based collaboration software was the Covid pandemic and remote work. In October of that year, Notion raised $275 million at a $10 billion valuation.
Kothari says the company has more cash on hand than the $330 million it's raised to date.