Vibe coding startup Lovable doubles valuation to $13.3B on $400M raise

Startup Lovable Labs Inc., an artificial intelligence coding platform, has seen its valuation soar to $13.3 billion, following a $400 million Series C funding round. The Swedish company, founded in 2023 by Anton Osika and Fabian Hedin, initially launched its unique vibe coding service in November 2024. Users input their project descriptions in simple language and Lovable's platform generates the code, hosting it as well.

Since the product's public release, over 60 million projects have been built, amassing 900 million monthly visits. Annualized revenue reached $500 million in June, up from $200 million in November 2025, and is projected to reach $600 million by the end of August. Enterprise adoption is a key focus, with Lovable serving nearly two-thirds of the Fortune 500, a significant increase from half six months ago.

Notable customers include Nvidia Corp., Adidas AG, Hearst Communications Inc., and Zendesk Inc. However, enterprise contracts contribute only about $20 million to annualized revenue, leaving the majority to individual and small teams. Around 80% of Lovable's users are developing business or side projects with monetization intentions, with over a third already earning revenue.

The new funding will be allocated to enterprise integrations, governance, permissions controls, and enhancing Lovable's in-house models. The company aims to add roughly 450 staff by year-end, primarily in machine learning, product development, infrastructure, and security, bringing the total workforce to about 50% more than currently employed.

Expansion plans include opening offices in London, Boston, San Francisco, and New York, alongside the existing headquarters in Stockholm. This funding round was led by Menlo Ventures and the Scaleup Europe Fund, with participation from several other investors, including Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent Holdings Ltd., World Innovation Lab, and Regent.

Notable returning backers are Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures. Menlo's Matt Murphy noted that Lovable is poised to become one of the most "generational companies of the AI era." To date, Lovable has raised over $930 million in total funding.