Lovable hits $13.3B valuation after $400M Series C raise
Lovable Labs closed a $400 million Series C on August 12, 2026, pushing its valuation to $13.3 billion. That is double the $6.6 billion it was worth in December 2025, when Menlo Ventures co-led a $330 million Series B.
The Revenue Numbers
Annualized revenue reached $500 million in June, up from $200 million in November 2025. The company says it expects to exit August at a $600 million annualized run rate. More than 60 million projects have been built on the platform since its November 2024 public launch, drawing 900 million visits per month.
Enterprise Traction vs. Enterprise Revenue
Employees at nearly two-thirds of the Fortune 500 now use Lovable, up from about half six months ago. Named customers include Nvidia, Adidas, Hearst Communications, and Zendesk. Despite that breadth, enterprise contracts account for only about $20 million of annualized revenue. Most of the business still runs on individual and small-team subscriptions.
Where the $400M Is Going
- Deeper enterprise integrations, governance, and permissions controls
- Further training of Lovable’s in-house models
- Headcount growth to roughly 450 by year-end, up about 50%, focused on machine learning, product, infrastructure, and security
- Office buildouts in London, Boston, San Francisco, and New York alongside the Stockholm headquarters
Menlo Ventures co-led the round with the Scaleup Europe Fund, a European Commission-backed vehicle managed by EQT AB. New investors include Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent. Returning backers include Accel, CapitalG, DST Global, HubSpot Ventures, and Salesforce Ventures. Total raised to date is more than $930 million.
The operator implication: the vibe coding category is no longer a niche experiment. At $500M ARR with Fortune 500 penetration, Lovable is competing for the same budget as established developer tooling. If you build on or sell to teams using no-code and low-code stacks, the landscape just got more crowded at the top.
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