Lovable doubles its valuation to $13.3 billion as investors place another big bet on AI coding

Lovable, a Stockholm-based AI software-building startup, has raised $400 million in a Series C round led by Menlo Ventures and EQT-managed Scaleup Europe Fund, doubling its valuation to $13.3 billion from $6.6 billion in December. The company's annual recurring revenue has nearly tripled since December to $400 million, and more than 60 million projects have been created on its platform since launch in November 2024.

AI software-building startup Lovable has raised $400 million at a $13.3 billion valuation, more than double the $6.6 billion valuation it received in its December funding round. Menlo Ventures led the Series C alongside EQT-managed Scaleup Europe Fund in the latest sign of investor appetite for vibe-coding startups. The Stockholm-based company's annual recurring revenue has nearly tripled since December, cofounder and CEO Anton Osika said. Lovable disclosed in March that it had reached $400 million in annual recurring revenue, up from $300 million a month earlier and $200 million at the end of 2025. In a blog post https://lovable.dev/blog/series-c on Wednesday, Lovable, which helps users build software through natural-language prompts, said more than 60 million projects have been created on its platform since its launch in November 2024. This is a developing story. Check back for updates.