AI software creation startup Lovable has raised $400 million in Series C funding at a $13.3 billion valuation, roughly doubling its valuation in eight months. Menlo Ventures led the round alongside the Scaleup Europe Fund, managed by EQT, as Lovable expands the infrastructure and AI systems supporting its rapidly growing platform.
The Stockholm-based company said Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent also participated. Existing investors Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures returned for the round.
Lovable confirmed the financing in its official Series C announcement on August 12. The company said users have created more than 60 million projects since its November 2024 launch, while applications built with Lovable now receive more than 900 million visits each month.
Valuation Doubles After December Funding
The new financing follows Lovable’s $330 million Series B announced in December 2025 at a $6.6 billion valuation. That round was led by CapitalG and Menlo Ventures’ Anthology fund.
Lovable also told TechCrunch in June that it had reached $500 million in annualized revenue and was adding about one million new projects each week. Its latest figures show that employees at nearly two-thirds of Fortune 500 companies now use the platform, up from half during its first year.
As usage has increased, Lovable has expanded the infrastructure behind its AI coding service. Google Cloud said earlier this year that Lovable users were already creating more than 200,000 projects daily on its infrastructure, while Lovable later agreed to substantially increase its Google Cloud usage.
Lovable Plans More AI and Infrastructure Investment
Lovable currently uses multiple AI models and has also been developing its own model capabilities. In a recent post about its model strategy, the company said it plans to continue post-training promising open-source models while automatically matching different tasks with suitable models.
The company said the Series C funding will support product development, infrastructure, security, and hiring. Lovable plans to grow to roughly 450 employees this year, concentrating recruitment in machine learning, product, infrastructure, and security while expanding teams in Stockholm, London, Boston, San Francisco, and New York.
Lovable has also begun investing in other European technology companies, including Danish startup Atech, which is developing AI-assisted software for designing hardware. The investments come as Lovable expands from generating software toward helping users operate businesses and manage longer-running workflows.
Featured image credits: Magnific.com
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