Lovable doubles valuation to $13.3B in $400M Series C round

Lovable Labs Inc., a Swedish artificial intelligence coding startup, announced today that it has closed a Series C funding round of $400 million at a $13.3 billion valuation, exactly double its December valuation of $6.6 billion. The company was founded in 2023 by Chief Executive Anton Osika and Fabian Hedin, and the product opened to the public in November 2024.

Lovable's core offering is a "vibe coding" service in which users describe what they want in plain language and the platform automatically builds it, with hosting included. Since its public launch, the platform has been used to build more than 60 million projects, which together draw 900 million visits per month. Lovable reports that nearly eight in 10 of its users are building a business or side project they intend to monetize, and that more than a third of those users are already earning revenue from their projects.

The company's revenue growth has been steep. Annualized revenue reached $500 million in June, up from $200 million in November 2025, and Lovable expects to end August at $600 million. Enterprise adoption is advancing but remains a smaller portion of the overall revenue: employees at nearly two-thirds of the Fortune 500 now use the product—up from about half six months ago—and named customers include Nvidia Corp., Adidas AG, Hearst Communications Inc., and Zendesk Inc. However, enterprise contracts still account for only about $20 million of annualized revenue, leaving most of the business with individuals and small teams paying by subscription.

The new capital will be deployed toward deeper enterprise integrations, governance and permissions controls, and further training of Lovable's in-house models. The company also plans to grow its headcount by about 50% to roughly 450 staff by year's end, with most hiring focused on machine learning, product, infrastructure, and security. Lovable will simultaneously expand its office footprint in London, Boston, San Francisco, and New York alongside its Stockholm headquarters.

The Series C was co-led by Menlo Ventures and the Scaleup Europe Fund, a European Commission-backed vehicle managed by Swedish investment firm EQT AB. First-time investors included Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent Holdings Ltd., World Innovation Lab, and Regent. Returning backers included Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures. Menlo had co-led Lovable's $330 million Series B in December, and Accel had led the $200 million Series A at a $1.8 billion valuation in July 2025. Including the new funding, Lovable has raised more than $930 million to date.