Lovable doubles its valuation to $13.3 billion as investors place another big bet on AI coding
Lovable raised $400 million at a $13.3 billion valuation after its ARR nearly tripled in eight months.
Lovable, an AI coding startup, has more than doubled its valuation to $13.3 billion following a $400 million funding round led by Menlo Ventures and the Scaleup Europe Fund. The Stockholm-based company, which was launched in November 2024, has seen its annual recurring revenue nearly triple since December, according to cofounder and CEO Anton Osika.
In a LinkedIn post announcing the funding, Osika highlighted how Lovable has become a platform where founders build million-dollar businesses, businesses spin up new product lines, and companies rewire workflows and create tools that cater to specific needs, often at a fraction of the cost of traditional software. This latest funding is the latest sign of investor enthusiasm for AI coding, as seen with SpaceX's $60 billion acquisition of Cursor and Emergent's $130 million raise at a $1.5 billion valuation.
Lovable's previous funding round in December saw it raise $330 million at a $6.6 billion valuation. The company plans to use the new funding to transform Lovable into a platform for running businesses, rather than just building them. Osika emphasized the ambition to give people the power to act on their ideas and help them achieve more than they thought possible.
With over 60 million projects created on its platform since its launch, Lovable now ranks among Europe's most valuable private AI companies, just below Mistral and ahead of Replit. However, the gap in funding between Europe's top AI startups and the biggest US model makers remains substantial.
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