Swedish unicorn startup Lovable has secured $400 million in Series C funding at a $13.3 billion valuation. The round was led by Menlo Ventures and co-led by EQT’s Scaleup Europe Fund.
- Founded in 2023 by Anton Osika, Lovable develops an AI-powered software creation platform that allows users to turn ideas into working applications without requiring traditional software development expertise.
- Since launching in November 2024, users have created more than 60 million projects on the platform, while Lovable-built applications now receive more than 900 million visits per month.
- The company has expanded beyond software creation with tools for payments, SEO and AI search, security, governance, and integrations with Google Workspace, Microsoft 365, Salesforce, Stripe, and ElevenLabs.
- Lovable says nearly 8 in 10 users are building a business or side project they hope to monetize, with more than one-third of those users already generating revenue.
- In 2025, Lovable raised $330 million in Series B funding at a $6.6 billion valuation, led by CapitalG and Menlo Ventures' Anthology fund. The company has since doubled its valuation, reflecting continued growth in demand for AI-powered software development tools.
Details of the deal
- The round also attracted new investors including Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent, alongside existing backers Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures.
"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. We believe Lovable is, and will continue to be, one of the most generational companies of the AI era," claims Matt Murphy, Partner at Menlo Ventures.
- Lovable plans to use the funding to accelerate product development, strengthen its infrastructure and security, expand internationally, and evolve its platform into a more proactive AI-powered tool for building and running businesses, while deepening integrations with existing business software, improving its AI models, and expanding its team to around 450 employees across Stockholm, London, Boston, San Francisco, and New York.
