- Lovable announced a new $13.3 billion valuation after raising $400 million in a Series C round led by Menlo Ventures and the Scaleup Europe Fund.
- This funding round doubles Lovable's valuation from the $6.6 billion valuation achieved in December when it raised $330 million.
- Lovable achieved $500 million in annualized run rate revenue in June and signed a deal with Google Cloud.
- Lovable launched in November 2024 and has since hosted 60 million projects attracting 900 million monthly visitors.
- The company plans to grow to roughly 450 team members this year, focusing on hiring in machine learning, product, infrastructure, and security roles.
Lovable, the Swedish vibe-coding startup, has confirmed a remarkable $13.3 billion valuation following a $400 million Series C funding round led by Menlo Ventures and the Scaleup Europe Fund. This funding round saw participation from notable investors including Tencent and Balderton Capital.1345
The latest funding comes on the heels of Lovable achieving a $500 million annualized run rate revenue in June, a significant increase from $200 million previously. The company is on track to reach $600 million by the end of August, showcasing its rapid growth in the tech landscape.
Since its inception in November 2024, Lovable has facilitated the creation of over 60 million projects and attracts 900 million monthly visitors to its platform. Major companies like Nvidia, Deutsche Telekom, and Adidas are leveraging Lovable's capabilities to build software through natural-language prompts.
CEO Anton Osika stated, "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." The company plans to expand its workforce to approximately 450 team members this year, focusing on roles in machine learning, product development, infrastructure, and security.6
“The round doubles Lovable's valuation from December's $6.6B, and the company's annual recurring revenue has nearly tripled to $500M, tracking toward $600M by end of August. Lovable now hosts 60 million projects attracting 900 million monthly visits, with Nvidia, Deutsche Telekom, and Adidas building on the platform.”
TechCrunch
