Sacra estimates that Mintlify hit $10M ARR at the end of 2025, up 10x from $1M at the end of 2024.

Mintlify has onboarded over 10,000 companies, up from roughly 1,000 in late 2023. The platform now processes over 280M monthly content views across customer documentation sites and handles more than 1M AI assistant queries per month.

The company reports strong unit economics with 150% net revenue retention. Enterprise annual contract values increased 15x year-over-year while mid-market ACVs grew 5x, indicating successful expansion within existing accounts and movement upmarket.

Over 20% of recent Y Combinator batches now use Mintlify, creating a viral distribution loop within the startup ecosystem. Notable customers include Anthropic, Microsoft, Coinbase, and other high-growth API-first companies that require production-quality documentation.

Mintlify raised an $18M Series A in September 2024 led by Andreessen Horowitz, with participation from Bain Capital Ventures, Y Combinator, TwentyTwo Ventures, and Quinn Slack, co-founder of Sourcegraph.

The company previously raised a $2.8M seed round in May 2022 led by Bain Capital Ventures, with participation from TwentyTwo Ventures and Quinn Slack. Mintlify went through Y Combinator's Winter 2022 batch.

In total, Mintlify has raised approximately $21M across its funding rounds. The company also acquired RAG infrastructure company Trieve in July 2025.

Mintlify is a docs-as-code platform for creating and maintaining technical documentation. Teams connect their Git repository to Mintlify, which automatically syncs every commit, runs CI checks, and generates preview URLs for documentation changes.

The platform converts Markdown and MDX files into branded documentation sites with built-in search, custom domains, and interactive components. For API documentation, teams can upload OpenAPI or AsyncAPI specifications to auto-generate interactive playgrounds where visitors can test endpoints and view code examples in multiple programming languages.

Mintlify's AI features cover the documentation lifecycle. The AI Assistant provides a chat widget on every docs site that answers questions using retrieval-augmented generation, cites sources, and generates code examples. The AI Agent drafts pull requests when prompted with requests like "Write setup steps for OAuth."

The platform automatically generates llms.txt files and Model Context Protocol servers for every documentation site. This allows external AI tools like Cursor or ChatGPT to ingest documentation or execute API calls directly from the docs so the content is machine-readable for tooling.

Teams can use either Git-based workflows for developers or a WYSIWYG editor for non-technical contributors. The platform includes analytics showing traffic patterns, search terms, user feedback, and AI assistant usage to measure documentation performance.

Mintlify operates a B2B SaaS model with tiered subscription pricing. The Hobby tier is free for individuals hosting one documentation site. The Pro tier costs $250 per month for teams with 5 editor seats and includes advanced features like password protection and custom domains.

Enterprise customers pay custom pricing for features like SAML SSO, SOC 2 compliance, dedicated support, and higher usage limits. Additional editor seats cost $20 per month beyond the base allocation.

The platform uses usage-based pricing for AI features on top of subscription fees. Each AI assistant query counts against a monthly allowance, with overages billed separately. This creates a natural expansion mechanism as documentation sites grow in traffic and AI usage.

Mintlify's viral distribution model drives efficient customer acquisition. Every public documentation site displays the Mintlify brand, exposing the platform to millions of developers who visit customer docs. This creates organic discovery without traditional marketing spend.

The docs-as-code approach creates switching costs through Git integration and workflow dependencies. As teams embed Mintlify into their development processes with automated deployments and preview environments, migration becomes increasingly difficult.

Revenue expansion comes from seat growth, feature upgrades, and AI usage scaling. As more team members contribute to documentation and AI assistant traffic increases, customers naturally move to higher-priced tiers with better unit economics.

GitBook and ReadMe represent the previous generation of documentation tools focused primarily on human readers. GitBook has added AI features like contextual chat bots and MCP servers, but maintains a WYSIWYG-first approach that appeals to non-technical teams.

ReadMe focuses heavily on API documentation with native OpenAPI integration and developer hub workflows. The platform offers AI-powered writing assistance and automated content updates, but lacks the Git-native workflow that developer-led organizations prefer.

Both platforms struggle with Mintlify's viral distribution model and have higher friction for developer adoption due to their emphasis on visual editors over code-based workflows.

Docusaurus, maintained by Meta, provides free static site generation for documentation. Teams that want full control and have engineering resources often choose Docusaurus, but miss out on AI features, hosted infrastructure, and automatic API playground generation.

VuePress and GitBook's open-source version offer similar capabilities but require significant setup and maintenance overhead. These solutions work well for large engineering teams but create barriers for smaller startups that need documentation quickly.

The open-source options lack the AI-native features that are becoming table stakes, particularly automated content generation and LLM-optimized output formats.

Documentation.AI launched in late 2025 as a direct Mintlify competitor, positioning itself as AI-first with built-in llms.txt and MCP compliance. The platform undercuts Mintlify's Pro tier pricing by approximately 25% while offering similar core features.

Swimm focuses on keeping documentation synchronized with code changes through automated monitoring and updates. Their patented continuous documentation workflow addresses the core problem of docs becoming outdated, but lacks Mintlify's broader platform approach.

These newer entrants benefit from building AI capabilities from the ground up rather than retrofitting them onto existing platforms, but lack Mintlify's established customer base and ecosystem integrations.

Mintlify is expanding beyond documentation hosting into AI-native infrastructure. The acquisition of Trieve provides RAG capabilities that power semantic search and content generation across customer knowledge bases.

The company's work on llms.txt and Model Context Protocol standards positions it as essential infrastructure for AI agent workflows. As coding assistants and LLMs become primary consumers of documentation, Mintlify can monetize compliance scanning, optimization services, and structured data generation.

This evolution from documentation platform to AI knowledge infrastructure expands the addressable market from software companies to any organization that needs AI-readable content and search capabilities.

Mintlify's Enterprise offering targets internal knowledge bases beyond external developer documentation. The platform can power company wikis, process documentation, and training materials with the same AI-powered features.

This expansion moves Mintlify into the broader enterprise knowledge management market, competing with tools like Notion, Confluence, and specialized internal documentation platforms. The AI assistant and automated content generation provide clear value propositions for large organizations struggling with knowledge silos.

The shift from external developer docs to internal enterprise knowledge represents a significant TAM expansion, particularly as remote work increases the importance of searchable, AI-accessible company information.

Regulated industries like healthcare, finance, and government represent untapped opportunities for Mintlify's documentation platform. These sectors require compliance-ready documentation with features like audit trails, access controls, and data residency requirements.

The platform's SOC 2 compliance and enterprise security features provide a foundation for expansion into these verticals. Adding HIPAA compliance, GDPR-ready redaction, and government cloud deployment options would unlock significant new market segments.

Mintlify's AI features become particularly valuable in regulated environments where accuracy and consistency in documentation are critical for compliance and risk management.

AI commoditization: As large language models become more capable and accessible, the AI features that differentiate Mintlify could become commoditized. Open-source alternatives might integrate similar AI capabilities, reducing the platform's competitive moat and pricing power.

Platform dependency: Mintlify's growth relies heavily on the continued expansion of API-first startups and developer-focused companies. Economic downturns that reduce startup formation or shift focus away from developer experience investments could significantly impact demand for premium documentation tools.

Technical debt: The rapid scaling from $1M to $10M ARR in one year creates operational challenges around platform stability, customer support, and feature development. Technical issues or service outages could damage the company's reputation among developer customers who expect high reliability from their tooling infrastructure.