AI

Lovable Labs Inc. said today it has raised $400 million in Series C funding at a $13.3 billion valuation. The Swedish artificial intelligence coding startup was worth $6.6 billion in December.

The company sells a vibe coding service. Users describe what they want in plain language and the platform builds it. Hosting is included.

Chief Executive Anton Osika and Fabian Hedin started the company in 2023, though the product did not open to the public until November 2024. Lovable says more than 60 million projects have been built on it since. Those apps draw 900 million visits a month.

Annualized revenue hit $500 million in June, up from $200 million in November 2025. Lovable expects to end August at $600 million.

Enterprise adoption is the piece Lovable is pushing hardest. Employees at nearly two-thirds of the Fortune 500 use the product, up from about half six months ago, and named customers include Nvidia Corp., Adidas AG, Hearst Communications Inc. and Zendesk Inc. Enterprise contracts still account for only about $20 million of annualized revenue, leaving most of the business with individuals and small teams paying by subscription.

Lovable says nearly eight in 10 of its users are building a business or side project they intend to monetize, and that more than a third of those are already earning revenue.

The new funding is going toward deeper enterprise integrations, governance and permissions controls, and further training of Lovable’s in-house models. The company also wants about 450 staff by year’s end, up about 50%, most of them in machine learning, product, infrastructure and security. It is also filling out offices in London, Boston, San Francisco and New York alongside the Stockholm headquarters.

Menlo Ventures co-led the round with the Scaleup Europe Fund, a European Commission-backed vehicle managed by Swedish investment firm EQT AB. Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent Holdings Ltd., World Innovation Lab and Regent invested for the first time. Returning backers included Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures.

Menlo co-led the company’s $330 million Series B in December. Accel led a $200 million Series A at $1.8 billion in July 2025.

“Lovable is, and will continue to be, one of the most generational companies of the AI era,” Matt Murphy, a partner at Menlo Ventures, wrote in the company’s funding announcement.

Including the new funding, Lovable has raised more than $930 million to date.