Lovable Secures $400M Funding, Boosting Valuation to $13.3B Amid Europe’s AI Surge
Stockholm-based AI startup Lovable has successfully closed a $400 million Series C funding round, skyrocketing its valuation to a staggering $13.3 billion. This achievement firmly establishes Lovable as one of Europe’s most valuable private technology companies. The funding round was jointly led by Menlo Ventures and the EU-backed Scaleup Europe Fund, managed by EQT. Notable new investors include Tencent Holdings, Balderton Capital, and Latin America’s Kaszek Ventures.
Established in 2023 by Anton Osika, Lovable has developed an innovative AI-powered software creation platform. This unique tool allows users to build websites and applications simply by describing their requirements in plain language, a concept now widely referred to as “vibe coding.” Since its commercial launch in November 2024, the platform has been used to create more than 60 million projects. Furthermore, apps built using Lovable now receive over 900 million visits per month.
Lovable is on a promising trajectory, with projections indicating a revenue run rate close to $600 million by the end of August 2026. This is nearly triple the figure disclosed just last December. The fresh capital will be used to expand its global team to approximately 450 employees, spread across Stockholm, London, Boston, San Francisco, and New York. Additionally, the funds will be used to evolve its platform into a proactive AI tool capable of running entire businesses.
Source: Vestbee – Lovable secures $400M at $13.3B valuation