Lovable, the Swedish vibe-coding platform that allows users to build software applications without writing code, has raised $400M in a Series C round led by Menlo Ventures and the Scaleup Europe Fund, with participation from more than a dozen other investors.
The round values the company at $13.3B, doubling its valuation from the $6.6B at which it raised $330M in December 2025. The funding follows the company’s announcement that it crossed $500M in annualized run rate revenue in June 2026.
Addressing The Market Opportunity
The ability to build functional software without writing code has moved from a novelty to a mainstream capability in the space of a year. Lovable sits at the center of this shift, serving a rapidly growing base of users who are building applications through natural language interaction rather than traditional development workflows. With 60 million projects hosted on the platform and 900 million monthly visitors, Lovable has established itself as one of the fastest-growing software tools in Europe’s startup history.
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How The Technology Works
Lovable’s platform enables users to describe what they want to build and have the system generate functional applications in response. As the platform has scaled, its backend infrastructure and AI capabilities have grown significantly more sophisticated. The company has developed its own in-house trained AI model alongside support for frontier models from external providers, giving users a range of options depending on the complexity and requirements of their projects.
In June 2026, Lovable signed a multiyear deal with Google Cloud representing a fivefold increase in usage, reflecting the scale of compute the platform now requires to serve its user base. The company has also begun investing in the broader vibe-coding ecosystem, backing startups such as Danish hardware design company Atech, which is applying the same approach to tech hardware design.
Growth And Market Traction
Lovable’s commercial trajectory has been exceptional by any measure. The company hit $500M in annualized run rate revenue in June 2026 and now hosts 60 million projects attracting 900 million monthly visitors. The Series C follows a Series B of $330M closed just seven months earlier, with Menlo Ventures returning as lead investor for the second consecutive round.
Expansion Plans
The $400M Series C will support the continued development of Lovable’s platform infrastructure, its in-house AI model, and its expanding backend capabilities as the user base and project volume continue to grow. The Scaleup Europe Fund’s co-lead position reflects a strategic interest in ensuring one of Europe’s most valuable AI companies has the capital to compete globally.
Looking Ahead
Lovable’s Series C confirms a valuation trajectory that has taken the company from $6.6B to $13.3B in under a year, driven by revenue growth that has kept pace with its fundraising. The company is now among the most valuable privately held AI companies in Europe and has built a platform that serves as infrastructure for a rapidly expanding community of builders creating software without traditional development skills.
About Lovable
Lovable is a Swedish vibe-coding platform that enables users to build functional software applications through natural language without writing code. The company hosts 60 million projects, attracts 900 million monthly visitors, and has reached $500M in annualized run rate revenue. Lovable has developed its own in-house AI model and operates at scale on Google Cloud infrastructure. Backed by Menlo Ventures, the Scaleup Europe Fund, and more than a dozen other investors, Lovable is valued at $13.3B following its $400M Series C.
