ClickUp vs Notion: Revenue, Profit and Business Model
ClickUp does not publish annual revenue. Notion reported $500M of revenue in FY2025 and — of net income.
Latest financial snapshot
Financial summary
ClickUp
ClickUp is private and does not publish audited financials, so revenue, profit and margins are not public. The figures it has disclosed are growth metrics: in September 2025 it announced it had surpassed $300 million in ARR, more than 20 million users and 400% growth in AI sales, and in February 2026 it framed new executive hires as preparation for a path to $1 billion-plus ARR. Total disclosed equity funding is roughly $535 million: a $35 million Series A (June 2020), a $100 million Series B at a valuation above $1 billion (December 2020) and a $400 million Series C at about $4 billion (October 2021) co-led by Andreessen Horowitz and Tiger Global. Cost discipline has become a theme since then, with about 10% of staff cut in July 2023 and 22% in May 2026.
Notion
Notion does not publish audited financials. Its key disclosed figure is annualized revenue of more than $500 million, stated to CNBC in September 2025 alongside the launch of Notion AI agents. CNBC later reported that half of Notion's Business and Enterprise customers pay for AI features, up from 10-20% a year earlier. Notion has raised roughly $330 million in total, most of it the $275 million Series C at a $10 billion valuation in October 2021, and has since used secondary tender offers rather than new primary rounds; the latest, at an $11 billion valuation, gave employees and early investors liquidity. Third-party estimates (e.g. Sacra) put 2026 ARR well above $500 million, but these are not company-confirmed.
Revenue and profit by year
ClickUp
ClickUp does not publish annual revenue. What is known about its finances is in the summary above.
Full ClickUp financialsNotion
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $500M | — | 0.0% | — | Source |
Where the revenue comes from
ClickUp
No segment breakdown is published.
Notion
- Plus subscriptions
Not disclosed
Per-member plans for small teams, about $10 per member per month billed annually.
- Business subscriptions
Not disclosed
About $20 per member per month billed annually, including full Notion AI, SAML SSO and private teamspaces.
- Enterprise contracts
Not disclosed
Custom-priced annual agreements with advanced security, admin controls and audit logs.
Business model and strategy
ClickUp
How it makes money
ClickUp operates a 'Product-Led Growth' (PLG) Freemium SaaS model. The platform is highly accessible for free to individuals and small teams, which drives large organic, viral adoption inside large companies. A single marketing team might start using ClickUp for free. Once they want advanced features (like large storage, AI tools, or complex workflow automations), they hit a paywall.
Growth strategy
ClickUp's growth plan centres on AI. ClickUp Brain is sold as a paid add-on, and the company reported 400% growth in AI sales in 2025. It then bought Qatalog (enterprise search and AI agents, November 2025) and Codegen (autonomous coding agents, December 2025), whose founder Jay Hack became ClickUp's Head of AI, to build 'Super Agents' that complete work inside the workspace rather than just track it.
Competitive advantage
ClickUp's absolute competitive advantage is its extreme flexibility and feature density. It is highly 'opinionated' by not having an opinion; a user can make ClickUp look like a simple to-do list, a complex Kanban board, or a large database spreadsheet.
Notion
How it makes money
Notion uses a freemium subscription model. Individuals can use a Free plan; teams pay per member per month for Plus (about $10 billed annually), Business (about $20, which since May 2025 includes full Notion AI such as agents, AI Meeting Notes and Enterprise Search) or custom-priced Enterprise contracts with SSO, audit logs and admin controls.
Growth strategy
Notion's growth plan has three parts: move AI into higher-priced plans (full Notion AI now sits in Business and Enterprise), expand the workspace into adjacent apps (Notion Calendar, Notion Mail, Sites, Forms, AI meeting notes), and sell upmarket to large enterprises with connectors to Microsoft Teams, SharePoint, Gmail and Slack plus Enterprise Search across those tools.
Competitive advantage
Notion's edge is a flexible block-and-database model that lets non-engineers build their own wikis, trackers and lightweight apps, plus a large creator and template community that drives organic sign-ups. Bottom-up adoption means many enterprise deals start with employees who already use Notion personally.
Questions about ClickUp vs Notion
Which company has higher revenue — ClickUp or Notion Labs, Inc.?
Notion Labs, Inc. reported $500.0M (FY2025). A verified revenue figure for ClickUp was not available at the time of this comparison.
What is the market cap of ClickUp vs Notion Labs, Inc.?
ClickUp has a market capitalisation of $4.0B. A public market cap figure for Notion Labs, Inc. was not available (it may be privately held).
Which is more financially efficient — ClickUp or Notion Labs, Inc.?
Notion Labs, Inc. generates $500k / employee in revenue per employee. A comparable figure for ClickUp requires matching employee and revenue data from the same reporting period.
How do ClickUp and Notion Labs, Inc. make money?
ClickUp and Notion Labs, Inc. generate revenue in fundamentally different ways. ClickUp: ClickUp operates a 'Product-Led Growth' (PLG) Freemium SaaS model. Notion Labs, Inc.: Notion uses a freemium subscription model.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the ClickUp vs Notion overview