Built to Run: Doubling Down for Lovable’s $400M Series C
Menlo Ventures Menlo Ventures ● Covered by 8 sources
Lovable just raised $400M at a $13.3B valuation. The bigger shift: it’s moving from a place to make apps to a place to run them too.
Based on reporting by Menlo Ventures, Menlo Ventures — read the original for the full story.
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Lovable’s latest round is a big one even by AI standards: Menlo Ventures is leading a $400 million Series C at a $13.3 billion valuation. It’s the firm’s second straight lead round for the company, and the Menlo-Lovable relationship is now in its third year. Since last December’s $330 million Series B, the numbers have moved fast. Revenue run rate has more than doubled, and it is now more than seven times where it was a year ago. Paying customers have more than doubled. Monthly sessions on apps built with Lovable have climbed by more than 4.5x.
That growth matters because Lovable is no longer being described as just a place to start a project. The company has spent the past nine months folding more of the boring-but-essential machinery of software into the product itself. Lovable Cloud now handles databases, storage, and auth. There’s an AI gateway for model calls. There are custom domains, SEO, analytics, and, more recently, agents that operate inside the apps. The pitch is clear: take an idea from first prompt to a live business without leaving the platform.
The market seems to be leaning that way. In Lovable’s own surveys, 80% of users say revenue is a present or future goal for their project, and more than a third of that group are already earning money. That changes the shape of the product. A creator who starts with a prototype can stay put as the app starts to make money, attract users, and need more infrastructure. The platform grows with the customer because the customer is no longer just building.
Menlo is also pointing to a second audience: enterprise teams. The firm says nine in 10 knowledge workers sit outside software development, which makes marketing, sales, operations, and finance the obvious targets for tools like this. A team can build something quickly, then make it load-bearing inside the company in a quarter. That’s the real bet here. Not just that more people will make software, but that the same place will become where software lives.
My take — AI-written commentary, not fact-checked reporting
This is the kind of AI story that actually matters: not another demo, but a product trying to swallow the whole workflow. The market keeps rewarding tools that move from “look what I made” to “this now runs the business,” which is a lot less glamorous and a lot more durable. Also, “software for the 99%” is the sort of slogan that usually survives only if the product keeps getting more useful after the applause fades.
Read more about this at: Menlo Ventures
