Lovable Raises $400M Series C at $13.3B Valuation as AI Coding Boom Accelerates
Swedish artificial intelligence startup Lovable has raised $400 million in Series C funding at a $13.3 billion valuation, more than doubling its value in just eight months and underscoring investors’ willingness to place increasingly large bets on AI platforms reshaping how software is built.
The Stockholm-based company’s latest financing was led by Menlo Ventures and co-led by the Scaleup Europe Fund, the European growth-capital initiative managed by EQT. New investors joining the round include Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab and Regent, alongside returning backers such as Accel, CapitalG, DST Global, HubSpot Ventures and Salesforce Ventures.
The deal marks another dramatic step in Lovable’s unusually rapid funding trajectory. The company raised $200 million at a $1.8 billion valuation in July 2025 before securing another $330 million in December at a $6.6 billion valuation. The latest Series C pushes that figure to $13.3 billion, placing Lovable among Europe’s most highly valued private AI companies.
From AI coding tool to business platform
Lovable has emerged as one of the most prominent players in so-called “vibe coding”, a rapidly expanding segment of generative AI that allows users to create software and web applications by describing what they want in natural language rather than writing most of the underlying code themselves.
The company is increasingly positioning itself beyond the initial promise of making software development easier. Its strategy now focuses on becoming a broader platform through which entrepreneurs and corporate teams can not only build applications, but also operate businesses, connect workflows and replace some conventional software tools with applications tailored to their own needs.
That shift is already visible among large corporate users. Employees at nearly two-thirds of Fortune 500 companies have now used Lovable, while customers and users include businesses such as Nvidia, Adidas and Deutsche Telekom. Since the platform launched in November 2024, more than 60 million projects have been created through Lovable, while applications built on the platform attract more than 900 million visits a month.
Revenue growth races alongside valuation
The new valuation is being supported by unusually rapid commercial expansion rather than user growth alone. Menlo Ventures said Lovable’s revenue run rate has more than doubled since its Series B, while its number of paying customers has also more than doubled over the same period.
Lovable is now on course to reach an annualized revenue run rate of close to $600 million by the end of August, nearly three times the level disclosed in December. The company has previously operated profitably, but is currently prioritizing investment in product development and expansion as competition in AI-generated software intensifies.
The pace of growth helps explain why investors have continued to reprice the company sharply higher despite only short intervals between successive funding rounds. The larger question for the market will be whether Lovable can convert the explosive adoption of AI-assisted software creation into a durable enterprise platform with recurring revenues and defensible customer relationships.
Fresh capital to fund global expansion
Lovable plans to use the Series C proceeds to strengthen its product, infrastructure and security capabilities while expanding its international footprint. The company expects its workforce to grow by around 50% to roughly 450 employees during 2026, with hiring concentrated in machine learning, product, infrastructure and security. It will retain Stockholm as its main base while expanding teams in London, Boston, San Francisco and New York, alongside further growth in markets including Latin America.
The company is also developing deeper integrations with major business platforms, including Google Workspace, Microsoft 365, Salesforce and Stripe, as it attempts to move closer to the day-to-day operations of companies rather than remaining primarily a tool for prototyping and application development.
A bigger European bet on AI
The presence of the Scaleup Europe Fund adds a broader economic dimension to the deal. Managed by EQT and launched with the backing of the European Commission and major institutional investors, the fund is targeting €5 billion to finance European technology companies from Series B onward and help close the region’s longstanding growth-capital gap.
Lovable is among the fund’s first investments, putting the Swedish startup at the centre of a wider European effort to retain high-growth technology companies and give them access to the capital required to compete globally without shifting their centre of gravity to the United States.
For Lovable, the $400 million Series C therefore represents more than another large venture round. It is a test of whether one of Europe’s fastest-growing AI companies can turn the early frenzy around AI-generated software into a global, large-scale business — and justify a valuation that has climbed from $1.8 billion to $13.3 billion in little more than a year.