Lovable Raises $400 Million at $13.3 Billion Valuation

Swedish vibe-coding startup Lovable has raised $400 million in a Series C funding round, valuing the company at $13.3 billion and doubling its valuation from December. The round was co-led by Menlo Ventures and the EQT-managed Scaleup Europe Fund, with Tencent, Balderton Capital and other new investors from Europe, Latin America and Asia also participating.

Lovable, which enables users to build software through natural-language prompts, had raised $330 million at a $6.6 billion valuation in December. The company said its annual recurring revenue has nearly tripled from $200 million and is on track to reach $600 million by the end of August. Since launching in November 2024, users have created more than 60 million projects, while apps built on the platform attract more than 900 million visits each month.

The company said businesses including Nvidia, Deutsche Telekom and Adidas are using its platform. Lovable plans to expand its workforce to around 450 employees this year, with hiring focused on machine learning, product, infrastructure and security. CEO and co-founder Anton Osika said the new funding would help the company accelerate investment in its product, infrastructure and team as it seeks to become a leading platform for building and running businesses.

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