Lovable has raised $400 million in a Series C round. The deal values the Swedish startup at $13.3 billion, double what it was worth eight months earlier. Menlo Ventures led the round, and EQT’s Scaleup Europe Fund co-led it. Lovable announced the raise on August 12, 2026.
Lovable builds a software creation platform. People describe an app in plain language and Lovable builds it. This approach is often called vibe coding. It lets people with no engineering background create and run real software.
The round at a glance
| Detail | Info |
|---|---|
| Amount | $400 million |
| Round | Series C |
| Valuation | $13.3 billion |
| Date | August 12, 2026 |
| Lead investors | Menlo Ventures (lead), Scaleup Europe Fund (co-lead) |
| Total raised | ~$950 million |
New backers include Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab, and Regent. Returning investors include Accel, Antler, CapitalG, DST Global, HubSpot Ventures, and Salesforce Ventures. The round makes Lovable the second largest investment in Menlo Ventures’ portfolio, behind only Anthropic.
Funding history
| Round | Date | Amount | Valuation | Lead investor |
|---|---|---|---|---|
| Series C | Aug 2026 | $400M | $13.3B | Menlo Ventures, Scaleup Europe Fund |
| Series B | Dec 2025 | $330M | $6.6B | Menlo Ventures, CapitalG |
| Series A | Jul 2025 | $200M | $1.8B | Accel |
| Seed | Feb 2025 | $15M | Not disclosed | Creandum |
Lovable was founded in 2023 by Anton Osika and Fabian Hedin, and launched to the public in November 2024. It has now raised about $950 million in total, a remarkable climb for a company less than two years old.
The growth behind the round
Lovable is one of the fastest growing software companies ever. Its annual recurring revenue crossed $500 million in June 2026 and is tracking toward $600 million by the end of August. That is nearly triple its $200 million run rate from December.
The usage numbers are just as steep. Users have created more than 60 million projects on the platform, and apps built with Lovable now draw over 900 million visits a month. About two thirds of the Fortune 500 use it, along with names like Nvidia, Klarna, and Uber.
Why it matters
AI coding is one of the hottest areas in tech, and Lovable sits near the center of it. The bet is that most software will soon be built by describing it, not by writing it line by line. If that holds, the market is enormous.
The round also matters for Europe. Lovable is proof that a giant AI company can be built outside Silicon Valley. Its founders kept the company in Stockholm and still reached a $13.3 billion valuation in under two years.
What is next
Lovable plans to use the money to expand its product, its infrastructure, and its team, growing toward about 450 employees. It is opening offices in London, Boston, San Francisco, and New York.
The open question is retention. Vibe coding makes it easy to start a project, but Lovable needs those users to become paying, recurring customers rather than one time builders. The valuation assumes they will.
Frequently asked questions
Lovable raised $400 million in its Series C round, announced on August 12, 2026, bringing its total funding to about $950 million.
Lovable is valued at $13.3 billion after its Series C, double its $6.6 billion valuation from December 2025.
The round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, which is managed by EQT.
Lovable is a software creation platform. Users describe an app in plain language and Lovable builds it, an approach often called vibe coding.
Lovable’s annual recurring revenue crossed $500 million in June 2026 and is tracking toward $600 million by the end of August 2026.