Lovable bolsters its AI software creation capacity, touts $400M funding round
Lovable, the Swedish-based AI software creation platform company, today announced an acceleration of its product, infrastructure, and team development efforts — and a noteworthy round of Series C funding totaling $400 million . The company said in its statement that it is looking to augment its platform, which it boasts is already used by almost two-thirds of Fortune 500 companies. Headquartered…
Swedish AI software creation platform Lovable has announced an acceleration of its product, infrastructure, and team development efforts, along with a significant Series C funding round totaling $400 million. The company, based in Stockholm, aims to expand its platform, which is already utilized by nearly two-thirds of Fortune 500 companies.
Lovable plans to hire heavily in machine learning, product, infrastructure, and security roles, with its team growing to 450 people this year. The funding comes on the heels of a $330 million Series B round last December, bringing Lovable's valuation to $13.3 billion.
Menlo Ventures, Scaleup Europe Fund, and Regent (parent company of Foundry) led the Series C funding round. Lovable has partnered with chipmaker Cerebras Systems, which builds large-scale processors and supercomputing systems for AI inference and training. The partnership allows Lovable to run latency-sensitive workloads on dedicated Cerebras capacity, ensuring faster AI response times.
Lovable's tools have been used to create over 60 million projects, with Lovable-built apps receiving more than 900 million visits per month since the company's November 2024 launch.
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