Vibe-coding startup Lovable has raised $400 million in Series C funding at a valuation of $13.3 billion, highlighting the strong investor interest in artificial intelligence tools that help users build software through natural-language prompts.
The Swedish company has doubled its valuation since December last year. Menlo Ventures and the EQT-managed Scaleup Europe Fund co-led the latest funding round. Tencent, Balderton Capital and other new investors from Europe, Latin America and Asia also participated.
Lovable valuation doubles in less than a year
Lovable had raised $330 million at a $6.6 billion valuation in December last year. The sharp increase in valuation reflects the company’s fast growth, rising usage and expanding role in AI-assisted software development.
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Lovable was founded by CEO and co-founder Anton Osika. The platform allows users to create software by describing what they want in ordinary language. Instead of writing every line of code manually, users can use prompts to develop applications and make changes during the building process.
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Osika said the new funding would allow Lovable to move faster across product development, infrastructure and team expansion. The company’s stated aim is to become the best place to build and run a business.
Annual recurring revenue moves towards $600 million
Lovable’s annual recurring revenue has nearly tripled from $200 million. The company is tracking towards $600 million by the end of August, underlining the pace at which demand for its platform has grown.
Since its launch in November 2024, users have created more than 60 million projects on Lovable. Applications built using the platform attract more than 900 million visits every month. These figures give the company a significant base as it competes in the fast-growing market for AI-powered development tools.
The platform is also being used by large companies. Nvidia, Deutsche Telekom and Adidas are among the businesses building on Lovable. Their participation shows that AI-based software creation is moving beyond individual users and smaller teams into large corporate environments.
Lovable plans team expansion
Lovable plans to grow to roughly 450 team members this year. It will hire most heavily in machine learning, product, infrastructure and security. These areas are important for improving the platform, managing rising usage and supporting businesses that depend on applications created through the service.
The company’s existing investors include Accel, Antler, CapitalG and HubSpot Ventures. Their continued backing, along with participation from new investors, gives Lovable additional capital as it expands its technology and global operations.
AI software development enters a competitive phase
Lovable’s fundraise comes as businesses and technology users increasingly explore tools that can convert simple instructions into working software. For Indian startups, small businesses and creators, such platforms could make it easier to test digital products without building large engineering teams at the beginning.
However, the next phase will require more than rapid user growth. Lovable will need to maintain product reliability, strengthen security and support customers as applications become more complex. Its planned hiring in machine learning, infrastructure and security signals that the company is preparing for these demands.
With $400 million in fresh capital and a $13.3 billion valuation, Lovable now has the resources to accelerate its product roadmap. Its future growth will depend on how effectively it converts strong usage and revenue momentum into long-term business adoption.