Lovable raises $400 million Series C at a $13.3 billion valuation

Lovable, the Stockholm-based AI coding startup, raised $400 million in a Series C round that doubles its valuation to $13.3 billion, up from $6.6 billion eight months ago, in December 2025.

Menlo Ventures and the EQT-managed Scaleup Europe Fund co-led the round, the company said in its Series C announcement, with backers including Balderton Capital, Tencent, Salesforce Ventures and returning investors Accel and CapitalG.

The pace is the story. Lovable, which lets users build web apps from natural-language prompts, says it reached roughly $500 million in annualized run-rate revenue in June 2026, less than two years after launching in November 2024. It counts more than 60 million projects created and 900 million monthly visits to apps built on the platform, according to the company.

Lovable plans to grow to about 450 employees in 2026, hiring across machine-learning engineering, infrastructure and security, and expanding offices in London, Boston, San Francisco and New York while keeping its Stockholm headquarters.

The figures come from Lovable and have not been independently audited. Annualized run-rate revenue annualizes a single recent month rather than booked full-year sales, and doubling a private valuation in eight months reflects investor appetite for AI coding tools as much as the underlying business. The test is whether run-rate revenue holds as free AI code generation commoditizes and larger incumbents ship rival builders.