Lovable Raises $400M, Valuation Hits $13.3B

In a significant validation of its rapid growth and innovative approach to software development, Swedish AI firm Lovable has successfully closed a Series C funding round, securing an impressive $400 million. This latest capital infusion has effectively doubled the company's valuation, propelling it to a substantial $13.3 billion. The funding round saw robust participation from a diverse and high-caliber group of investors, underscoring strong market confidence in Lovable's trajectory.

Leading the charge was prominent Silicon Valley venture capital firm Menlo Ventures, signaling a major endorsement from the U.S. tech investment community. Joining them was the Scale Europe Fund, a significant initiative backed by the European Commission and managed by EQT, specifically targeting deep-tech advancements across the continent. The investment syndicate also featured a strong European contingent, including Balderton Capital and Carmignac, alongside influential Asian investors such as Chinese tech titan Tencent and World Innovation Lab.

Further diversifying the investor base, the round included Latin American funds Kaszek Ventures and LTS Growth, as well as U.S. private equity firm Regent. A testament to sustained investor belief, many of Lovable's existing backers also reinvested, including Accel, CapitalG, DST Global, HubSpot Ventures, and Salesforce Ventures. This broad spectrum of global financial backing highlights the widespread appeal and perceived potential of Lovable's technology.

Lovable, which specializes in what it terms "vibe coding" – a method for rapidly building software applications – has experienced exponential growth since its official launch in late 2024. The company reports a dramatic increase in platform usage, with over 60 million projects now created, powering applications that collectively attract more than 900 million monthly visits. This marks a significant leap from its Series B round in December 2025, where it reported 25 million projects and 200 million monthly visits.

The substantial capital raised is earmarked for aggressive expansion, particularly in bolstering its machine learning, product development, and security teams. Lovable anticipates growing its workforce to 450 employees by year-end. CEO and co-founder Anton Osika stated the funding will accelerate the development of the product, infrastructure, and team necessary to establish Lovable as the premier environment for building and operating businesses. This indicates a strategic pivot towards supporting the entire application lifecycle, moving beyond initial creation.

This strategic expansion aims to capture a larger share of the enterprise market, building on existing relationships with major clients like Adidas, Nvidia, Deutsche Telekom, and Zendesk. Lovable's financial performance reflects this ambition, with the company recently surpassing $500 million in annual recurring revenue (ARR) and reportedly on track to reach $600 million by the end of the current month. This represents a threefold increase in ARR since December 2025, showcasing remarkable financial momentum in the competitive AI development space, which also sees major players like Microsoft, Anthropic, and Mistral AI vying for market position.