Lovable confirms new $13.3B valuation, raises another $400M
This new funding comes after Lovable hit $500 million in annualized run rate revenue in June, the startup told TechCrunch.
Europe's beloved startup Lovable has announced its latest funding round, confirming a $13.3 billion valuation. The company revealed on Wednesday that it raised $400 million in a Series C round, led by Menlo Ventures and the Scaleup Europe Fund. Over a dozen other investors participated in this new funding.
Lovable's growth has been impressive, with the company hitting $500 million in annualized run rate revenue in June. This achievement comes after a previous round in December, where the startup raised $330 million at a $6.6 billion valuation, also led by Menlo Ventures.
As Lovable has expanded, its back-end needs and sophistication have increased. The company now hosts 60 million projects that attract 900 million monthly visitors. To meet these demands, Lovable offers its own in-house trained AI model alongside other frontier model options.
In June, Lovable signed a multiyear deal with Google Cloud, marking a fivefold increase in usage. The startup has also invested in other European startups, such as Danish startup Atech, which develops vibe-coding software for tech hardware. Notably, one of Lovable's new Series C investors is Regent, the investment firm that owns TechCrunch.
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