- Lovable raised $400M in Series C, doubling valuation to $13.3B in eight months
- Funding round co-led by Menlo Ventures and EQT-managed Scaleup Europe Fund
- Annual recurring revenue tripled to $600M, with 60M projects created since launch
Swedish vibe-coding startup Lovable has raised $400 million in a Series C funding round, doubling its valuation to $13.3 billion in eight months as demand for AI-powered software development grows.
The round was co-led by Menlo Ventures and the EQT-managed Scaleup Europe Fund. Tencent, Balderton Capital and several new investors from Europe, Latin America and Asia also participated.
The latest funding marks a sharp jump from December, when Lovable raised $330 million at a $6.6 billion valuation.
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Lovable allows users to create software and applications using natural-language prompts, reducing the need for traditional programming skills. The company has emerged as a major player in the growing “vibe-coding” market, where users describe what they want and AI helps turn those instructions into working software.
The company's revenue growth has also accelerated rapidly. Lovable said its annual recurring revenue has nearly tripled from $200 million and is expected to reach about $600 million by the end of August.
Since launching in November 2024, users have created more than 60 million projects through the platform. Apps built with Lovable now attract more than 900 million visits every month, according to the company.
The platform is also gaining traction among major businesses. Companies including Nvidia, Deutsche Telekom and Adidas are building on Lovable, reflecting growing enterprise adoption.
CEO and co-founder Anton Osika said the new funding will help the company accelerate investments in its product, infrastructure and workforce.
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Lovable plans to expand its team to around 450 employees this year, with hiring focused on machine learning, product development, infrastructure and security.
The company's existing investors include Accel, Antler, CapitalG and HubSpot Ventures.
Lovable's latest funding round underscores the rapid growth of AI-native software companies. Its valuation has risen from $6.6 billion in December to $13.3 billion, alongside rapid growth in revenue, usage and enterprise adoption.
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