Overview
- On Wednesday Lovable closed a $400 million Series C led by Menlo Ventures and EQT’s Scaleup Europe Fund at a $13.3 billion post-money valuation.
- The Stockholm startup reports roughly $400 million in annual recurring revenue and says more than 60 million projects have been created on its platform since its November 2024 public launch.
- Use inside large companies has surged so that nearly two-thirds of the Fortune 500 have employees using Lovable, but reported enterprise contract sales are a small slice of ARR and must grow to justify the valuation.
- Lovable plans to expand headcount to about 450, deepen integrations with platforms like Microsoft and Salesforce, add governance and permissions tooling, and continue post-training of models using the new capital.
- The deal highlights strong investor appetite for 'vibe-coding' tools that let non‑technical users build apps from plain language and places pressure on Lovable to convert broad adoption into durable enterprise revenue amid stiff competition.