Lovable has raised $400 million in Series C funding at a $13.3 billion valuation as the AI software creation company looks to expand its platform for building and operating businesses. Menlo Ventures led the round, with the Scaleup Europe Fund, managed by EQT, co-leading.
New investors included Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent. Returning investors included Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures.
Lovable launched in November 2024 and said users have since created more than 60 million projects on the platform. Apps built with Lovable now receive more than 900 million visits per month. Within its first year, the platform had reached employees at half of the Fortune 500, and that figure has since increased to nearly two-thirds.
The company has expanded beyond application creation into tools designed to help users operate and monetize businesses. Recent additions include payment functionality, SEO and AI-search capabilities, integrations with Google Workspace, Microsoft 365, Salesforce, Stripe, and ElevenLabs, along with automated security scanning and enterprise governance features.
Lovable said nearly eight out of 10 surveyed builders are creating a business or side project they hope to monetize, and more than one-third of those users are already generating revenue. Established companies including Adidas, NVIDIA, and Deutsche Telekom are also using the platform to build internal software, replace existing tools, and develop new products and revenue streams.
The company highlighted several examples of businesses created or expanded through Lovable. WNTD founder Lex Deak used the platform to build a fashion discovery application that the company said saves £25,000 to £30,000 per month and has helped onboard hundreds of thousands of customers. Brazilian AI education company Viver de IA uses Lovable across CRM, finance, website, and AI sales workflows and is targeting R$100 million in annual revenue.
Nursa, meanwhile, built a new enterprise product for nursing schools in a single weekend before rolling Lovable out across more than 200 employees. The company said it subsequently rebuilt its core platform 12 times faster and is working to retire 10 SaaS products as employees build their own tools.
Lovable plans to use the new capital to advance three main priorities: making the platform more capable of both building and running businesses, improving its systems by learning which software creations produce successful outcomes, and expanding its workforce. The company expects to grow to roughly 450 employees this year, with significant hiring across machine learning, product, infrastructure, and security.
Lovable will maintain its primary base in Stockholm while expanding teams in London, Boston, San Francisco, and New York.
KEY QUOTES:
“From the very start, Lovable was built for the billions of people with the creativity and knowledge to make something, but who had always been blocked by technical ability. That focus has created extraordinary growth, a product people love, and a market that expands every time someone becomes a founder or a company rethinks how software gets made. We believe Lovable is, and will continue to be, one of the most generational companies of the AI era.”
Matt Murphy, Partner at Menlo Ventures
“Anton, Fabian, and the Lovable team have built one of the most ambitious and fastest-growing AI companies we’ve seen. They prove that Europe has no shortage of exceptional founders. We’re excited to co-lead this investment in Lovable through the Scaleup Europe Fund, which reflects exactly why the Fund was established: to help Europe’s most ambitious technology companies become global leaders.”
Victor Englesson, Partner at EQT and Co-Head of the Scaleup Europe Fund
