Stockholm-based Lovable, a no-code AI platform for building software via natural language, raised $400 million in Series C at a $13.3 billion valuation, led by Menlo Ventures and co-led by the EU's Scaleup Europe Fund managed by EQT. The round represents a doubling of the company's valuation from $6.6 billion in December 2025, just eight months prior. New investors include Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, and World Innovation Lab, alongside returning backers like Accel, CapitalG, and Salesforce Ventures.
The company has reached $500 million in annual recurring revenue as of June 2026, achieved in just eight months since its November 2024 public launch. More than 60 million projects have been created on the platform, with 900 million monthly visits to user-built apps. Lovable now has employees at roughly two-thirds of Fortune 500 companies, up from half just six months ago.
Lovable plans to grow its team to 450 employees this year, expanding hires across ML engineering, infrastructure, and security. The company will maintain its Stockholm headquarters while expanding in London, Boston, San Francisco, and New York. Founders plan to deepen enterprise integrations, strengthen governance and security, post-train open-source models, and make the platform more proactive in identifying work that needs attention.