Lovable raises $400M at $13.3B valuation, doubles in eight months on enterprise AI demand

Lovable, the Stockholm-based software creation platform that lets users build applications through natural-language prompts, has raised $400 million in Series C funding at a $13.3 billion valuation, the company announced Thursday.

The round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT. New investors include Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab and Regent. Returning investors include Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures, according to the company.

The valuation more than doubles Lovable’s $6.6 billion mark from its $330 million Series B in December 2025, reflecting the accelerating market for AI-native software development tools. The company said its annual recurring revenue has nearly tripled from $200 million and is on track to reach about $600 million by the end of August, as reported by NDTV Profit and TechRepublic.

Since launching in November 2024, users have created more than 60 million projects on the platform. Applications built with Lovable now receive more than 900 million visits each month, according to the company.

**Growing enterprise footprint**

Lovable’s platform is moving beyond individual developers into large organizations. The company’s customer list now includes Nvidia, Adidas, Hearst, Zendesk, and Deutsche Telekom. Lovable told TechRepublic that nearly two-thirds of Fortune 500 companies have employees using the platform.

CEO and co-founder Anton Osika said the new funding will accelerate investments in product, infrastructure and workforce, according to NDTV Profit. Lovable plans to expand its team by 50% to about 450 employees this year, with hiring focused on machine learning, product development, infrastructure, and security.

The company positions itself in the so-called “vibe-coding” market, where users describe desired functionality in plain language and the AI generates front ends, back ends, databases, authentication, and integrations. Generated code can be reviewed or exported to GitHub.

Enterprise customers are using Lovable to create customized internal tools. Nvidia uses the platform to build project tracking software for team leaders, according to TechRepublic. Other users cited in Lovable’s own blog include fashion discovery app WNTD, AI education company Viver de I, and nursing workforce platform Nursa.

**Revenue and usage metrics**

Nearly 8 in 10 Lovable users are building a business or side project they hope to monetize, and more than one-third of those are already earning revenue, according to user survey data cited in the company’s announcement.

Lovable said its revenue run rate has nearly tripled from the level reported at the end of last year. TechRepublic reported that figure was about $200 million in late 2025.

**Broader market context**

The funding round underscores investor enthusiasm for AI-powered development tools. In March, competitor Replit was valued at $9 billion, and in June SpaceX agreed to acquire Cursor parent Anysphere for $60 billion, TechRepublic noted.

Still, the rise of employee-built applications brings governance challenges. Lovable’s enterprise offering includes SSO and SAML authentication, role-based access controls, SCIM provisioning, audit logs, GitHub integration, and its Workspace Insights tool for inventorying projects and externally published apps. IT teams face new questions about access controls, data security, and maintenance responsibilities as AI-generated code proliferates, TechRepublic reported.

Lovable outlined three priorities for the next phase: making the platform more proactive and capable of understanding user goals, deepening integrations with existing enterprise technology stacks, and expanding the product to serve as a single environment for building and running businesses, according to its blog.

The company said enterprise workspaces can grow to thousands of projects, positioning Lovable as part of the broader software estate rather than a standalone productivity tool.