Swedish vibe-coding startup Lovable raises $400 million at $13.3 billion valuation as ARR nears $600 million

Swedish vibe-coding startup Lovable has raised $400 million in Series C funding at a $13.3 billion valuation, doubling its valuation in just eight months as the two-year-old company races toward $600 million in annual recurring revenue.

Menlo Ventures and the EQT-managed Scaleup Europe Fund co-led the round, Lovable announced Wednesday. New investors include Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab, and Regent. Existing backers Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures returned for the round.

“Today, we’re announcing that Lovable has raised $400 million in Series C funding at a $13.3 billion valuation, led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT. The round also welcomes Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the United States, broadening the group of investors backing Lovable’s global ambition. Returning investors include Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures,” Lovable said in a blog post.

The financing comes just eight months after Lovable raised $330 million at a $6.6 billion valuation in December 2025. That means investors have effectively doubled what they think the Swedish startup is worth in less than a year.

The revenue numbers help explain the enthusiasm. Lovable said its annual recurring revenue has nearly tripled from $200 million and is tracking toward $600 million by the end of August. Few software startups have reached that level of recurring revenue so soon after launch.

“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.

From vibe coding to a $13.3 billion unicorn startup

Founded by Anton Osika and Fabian Hedin, Lovable launched in November 2024 around a simple proposition: let people build software by describing what they want in natural language rather than writing the underlying code themselves.

The approach arrived as “vibe coding,” a term popularized during the generative AI boom, started moving from developer circles into mainstream software creation. Lovable is now trying to push beyond prototyping into something more ambitious: a platform where users can build, launch, monetize, and operate software businesses.

The scale is already substantial. Users have created more than 60 million projects on Lovable since launch, according to the company, and apps built using the platform now receive more than 900 million visits per month. Lovable said its software reached employees at half of the Fortune 500 during its first year. That figure has since climbed to nearly two-thirds.

Lovable Team

Large companies are starting to use the platform, too. Nvidia, Adidas, Deutsche Telekom, Zendesk, Handshake, and Checkr are among businesses Lovable says are using its technology for internal software, workflows, prototypes, and new products.

Jorge Luthe, Senior Director of Product at Zendesk, described how that use of Lovable has progressed beyond prototyping:

“What started as a faster way to prototype has become an important tool for building internal products that support how our teams work. With Lovable, we’ve been able to build solutions tailored to our business needs, from internal training tools to a roadmap application that better fits our workflow and reduces reliance on expensive off-the-shelf software.”

That enterprise adoption matters. AI coding startups face a larger question than whether people can generate impressive applications from prompts. The harder business is turning experimentation into software companies are willing to depend on. Lovable has been adding payments, security scanning, governance controls, integrations, and business tools aimed at closing that gap.

Its next phase will push further in that direction. Lovable said it wants its software to become more proactive, identifying tasks that need attention and carrying out more work without waiting for individual prompts. The company plans deeper connections with existing corporate technology systems and continued work on security, reliability, permissions, and governance.

Lovable plans to grow to roughly 450 employees this year, concentrating hiring in machine learning, product, infrastructure, and security. Stockholm will remain its main base, with teams growing in London, Boston, San Francisco, and New York.

The bigger story may be the speed at which the economics of building software are changing. Lovable went from launching in late 2024 to a $13.3 billion valuation, more than 60 million projects, and a run rate approaching $600 million in less than two years.

For investors betting that natural-language software creation will become a major computing platform, Lovable is no longer an experiment. Its next challenge is proving that this extraordinary early growth can turn into an enduring software business.