Lovable hits $13.3B valuation after $400M Series C raise
Swedish AI coding platform Lovable just closed a $400 million Series C, pushing its valuation to $13.3 billion. Eight months ago, that number was $6.6 billion. The round was co-led by Menlo Ventures and the EQT-managed Scaleup Europe Fund, with Tencent, Balderton Capital, and new investors from Europe, Latin America, and Asia also participating.
The Revenue Story
Lovable says its annual recurring revenue has nearly tripled from $200 million and is on track to hit roughly $600 million by the end of August. Since launching in November 2024, users have created more than 60 million projects on the platform. Apps built with Lovable now pull in more than 900 million visits per month, according to the company.
Enterprise Adoption
The platform is no longer just a hobbyist tool. Nvidia, Deutsche Telekom, and Adidas are all building on Lovable, signaling real enterprise traction beyond the indie developer crowd.
What the Money Is For
CEO and co-founder Anton Osika said the funding will go toward product, infrastructure, and headcount. The company plans to grow to around 450 employees this year, with hiring focused on machine learning, product development, infrastructure, and security. Existing investors include Accel, Antler, CapitalG, and HubSpot Ventures.
For context: Lovable lets users build software and applications using natural-language prompts, reducing the need for traditional programming skills. It’s the fastest-growing player in what the company calls the “vibe-coding” category.
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