Lovable Raises $400M at $13.3B Valuation as Vibe-Coding Market Surges

Swedish vibe-coding startup Lovable announced Wednesday it has raised $400 million in a Series C funding round at a $13.3 billion valuation, doubling its valuation from December when it raised $330 million at $6.6 billion. The round was co-led by Menlo Ventures and the Scaleup Europe Fund, a vehicle managed by EQT.

New investors include Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab, and Regent, according to the company. Returning investors — Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures — also participated, Lovable said in a blog post.

The company’s annual recurring revenue has nearly tripled from $200 million and is tracking toward approximately $600 million by the end of August, Lovable said. That pace follows its previous reported milestone of $500 million in annualized run-rate revenue in June, according to TechCrunch.

Since launching in November 2024, users have created more than 60 million projects on the platform. Lovable-built applications now attract over 900 million visits each month, the startup said. Within its first year, Lovable reached employees at half of the Fortune 500; that figure now stands at nearly two-thirds, according to the company’s blog.

Enterprise customers include Nvidia, Adidas, Deutsche Telekom, Hearst, and Zendesk, according to multiple sources. Lovable plans to grow its workforce to roughly 450 employees this year, with hiring concentrated in machine learning, product development, infrastructure, and security roles, the company said.

“This funding lets us move faster on the product, infrastructure, and team needed to make Lovable the best place to build and run a business,” CEO and co-founder Anton Osika said in a statement reported by Reuters.

Lovable operates in the growing “vibe-coding” market, where users describe what they want in natural language and the platform generates front ends, back ends, databases, authentication, and integrations. The generated code can be reviewed or exported to GitHub.

The company said it offers its own in-house trained AI model alongside standard frontier models, as TechCrunch reported. In June it signed a multiyear deal with Google Cloud, representing a fivefold increase in usage, according to that outlet.

Investor appetite for AI coding tools is broadening. Replit was valued at $9 billion in March, while SpaceX agreed to acquire Cursor-parent Anysphere for $60 billion in June, TechRepublic reported.

Enterprise governance features are growing in importance as non-engineers build more applications. Lovable provides single sign-on, role-based access controls, audit logs, GitHub integration, and a Workspace Insights tool that inventories projects and externally published apps, according to TechRepublic. The company noted it earned AIUC-1 certification, described as a security standard for AI agents.

User survey data shared by Lovable shows nearly 8 in 10 builders are creating a business or side project they hope to monetize, and more than one-third of those already generate revenue. The company highlighted customer stories including a fashion discovery app that saved £25,000–30,000 per month and closed a £3 million funding round, a 54-person AI education company on track for R$100 million in revenue, and an enterprise product built in a single weekend.

Lovable’s blog said its product will become more proactive, with deeper integrations connecting it to organizations’ existing technology stacks across sales, operations, and marketing. The company also said it has backed other European startups, including Danish firm Atech, which builds vibe-coding software for tech hardware design, as TechCrunch reported.

Existing investors include Accel, Antler, CapitalG, and HubSpot Ventures, the company confirmed.