Vibe coding startup Lovable doubles valuation to $13.3B with $400M raise

Lovable Labs said it has closed a $400 million Series C round at a $13.3 billion valuation, more than doubling the price tag it had in December. The Swedish startup’s pitch is simple enough to fit in one sentence: people describe an app in plain language, and Lovable builds and hosts it.

That simplicity has turned into scale. Since opening to the public in November 2024, the company says more than 60 million projects have been built on the platform, and those apps are pulling in 900 million visits a month. Lovable says annualized revenue reached $500 million in June and it expects to finish August at $600 million.

Enterprise is the prize now. Employees at nearly two-thirds of the Fortune 500 use the product, up from about half six months ago, and Nvidia, Adidas, Hearst Communications and Zendesk are among the named customers. But enterprise contracts still make up only about $20 million of annualized revenue, so most of the money is still coming from subscriptions for individuals and small teams.

The new cash is going into deeper enterprise integrations, governance and permissions controls, and more work on Lovable’s in-house models. The company also wants to grow to about 450 staff by year-end, roughly 50% more than now, with hiring focused on machine learning, product, infrastructure and security. It is expanding beyond Stockholm too, with offices in London, Boston, San Francisco and New York.

Menlo Ventures co-led the round with the Scaleup Europe Fund, a European Commission-backed vehicle managed by EQT. New investors included Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab and Regent, while Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures came back for another turn. Lovable says it has now raised more than $930 million in total.