Lovable Raises $400M Series C, Doubling Valuation to $13.3B

Lovable has closed a $400 million Series C round that values the AI app-building startup at $13.3 billion, roughly double the $6.6 billion valuation it carried just eight months earlier. The Stockholm-founded company, launched in November 2024, builds a platform that lets users generate working software from natural-language prompts.

The round was co-led by Menlo Ventures and the Scaleup Europe Fund, an EU-backed investment vehicle managed by EQT. Notably, the Scaleup Europe Fund's participation makes the European Commission a shareholder in Lovable, a rare instance of direct EU government exposure to a private AI startup.

A long list of backers joined the round, including Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent. Returning investors Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures also came back for the new round.

Growth Behind the Number

Lovable's traction underpins the jump in valuation. The company says more than 60 million projects have been built on its platform, and apps created with it now draw over 900 million monthly visits.

Revenue has scaled just as fast: Lovable hit $500 million in annualized run rate in June 2026 and expects to approach $600 million by the end of August, according to the company and TheNextWeb's reporting.

Enterprise adoption has broadened alongside consumer use. Lovable says it now reaches employees at nearly two-thirds of Fortune 500 companies, up from half within its first year, with named users including Adidas, NVIDIA, and Deutsche Telekom.

A multiyear infrastructure deal signed with Google Cloud in June 2026 reportedly brought a fivefold increase in Lovable's compute usage, a signal of how fast demand for its AI-generated software has scaled behind the scenes.

The company also picked up AIUC-1 certification, described as the first security standard built specifically for AI agents, a detail likely aimed at easing enterprise procurement concerns around AI-generated code running in production environments.

A Discrepancy Worth Flagging

Reporting on Lovable's prior fundraising isn't fully consistent. TechCrunch and TheNextWeb both cite a $330 million Series B raised in December 2025 at a $6.6 billion valuation, but at least one other source puts that round at $425 million. The verified sources in this report align on $330 million, though the discrepancy suggests some ambiguity in how the round was tranche or reported across outlets.

CEO Anton Osika and co-founder Fabian Hedin have not publicly addressed the figure mismatch. What's clear is the trajectory: two funding rounds in eight months, both at multibillion-dollar valuations, reflect investor appetite for AI coding and app-generation tools that continues to run well ahead of typical enterprise software funding cycles.