Lovable secures $400 million, valuation jumps to $13.3 billion
AI startup Lovable raised $400 million in a Series C round, lifting its valuation to $13.3 billion, more than double its prior level.
The funding round was led by Menlo Ventures with participation from the Scaleup Europe Fund managed by EQT. Lovable, based in Stockholm, reported that its annual recurring revenue has nearly tripled since the December round, reaching $400 million. The company, which enables software creation via natural-language prompts, said over 60 million projects have been launched on its platform since its November 2024 debut.
Why it matters
The massive funding reflects growing confidence in AI tools that automate software development, potentially reshaping the tech industry.
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AI startupSeries Cvaluationannual recurring revenuenatural-language codingventure capitalsoftware creationinvestment roundtechnology funding