Lovable Raises $400M at $13.3B Valuation

Swedish startup Lovable has raised $400 million in a Series C funding round, valuing the company at $13.3 billion. The round, announced on August 12, 2026, was co-led by Silicon Valley firm Menlo Ventures and the Scaleup Europe Fund, an EU-backed investment vehicle managed by EQT. The new valuation more than doubles the company's $6.6 billion worth from its previous funding round in December 2025.

The funding marks a significant acceleration for the Stockholm-based company, which allows users to build software applications through natural language prompts, a practice known as "vibecoding." Since its launch in November 2024, Lovable's platform has been used to create over 60 million projects, which now attract more than 900 million monthly visits. The company's annual recurring revenue has nearly tripled since December, reaching a run rate of approximately $600 million by the end of August.

Lovable's growth has been fueled by adoption within major corporations. Its customer list now includes Nvidia, Adidas, Deutsche Telekom, Hearst, and Zendesk. These companies use the platform to build customized internal tools, such as project tracking software, and to empower non-engineering...