With a $400 million Series C raise and a valuation of $13.3 billion, Lovable is making its move to put an even finer point on the AI software platform it has built.
The Swedish startup is waging a bet on a larger proposition: that for some, building an app is just the first step in running a business with it. The new round of funding more than doubles the company’s $6.6 billion valuation from December 2025 and was spearheaded by Menlo Ventures and the EQT-managed Scaleup Europe Fund. Other backers in the deal include Balderton Capital, Carmignac, KASZEK Ventures, LTS Growth, Tencent, WiL, REGENT and others.
From AI App Builder to Business Platform
Since its debut in November 2024, Lovable has given users the means to put together applications and internal workflows with the help of AI and natural language. The numbers are telling: there are over 60 million projects made on the platform and Lovable apps draw in excess of 900 million visits a month.
And many of those are not just hobbyists. Some 80 per cent of builders we have surveyed are working on a side project or business they intend to put on the market, with well over a third already seeing revenue.
That kind of activity is driving Lovable to evolve. The company is adding the sort of tools one would need to run a business, be it for payments, SEO, automated security or AI search. It has put in place integrations with the likes of Stripe, Salesforce, Google Workspace and Microsoft 365.
Lovable’s Growing Enterprise Footprint
Then there is the enterprise side. Firms as varied as Adidas, NVIDIA and Deutsche Telekom are on the platform to develop new products and do away with legacy systems. This type of adoption goes some way to explaining the steep climb in Lovable’s worth.
Revenue Growth Fuels Lovable’s Rising Valuation
The financials back it up too. Lovable expects to see its annual recurring revenue hit $600 million by year end, a near tripling of the $200 million figure of recent times. In June 2026 alone, the company put in a $500 million annualised run rate. To investors, that mix of user engagement and hard revenue makes AI-assisted development a very attractive prospect.
Where Lovable Will Invest the $400 Million
What will the $400 million be put to? Lovable intends to put the capital towards product expansion and to shore up its AI models, security and infrastructure. Expect the headcount to grow to about 450 in offices from Stockholm and London to New York and Boston.
AI-Assisted Development Moves Into the Mainstream
In many ways, this latest round is indicative of a change in the industry. Vibe coding and other forms of AI-assisted work are no longer experiments; they are in use, and investors are taking note of companies that can show results.
Can Lovable Become More Than an App Builder?
But the task ahead for Lovable is to show it can do more than help someone write code. It has to prove the platform can underpin a business in every sense, from discovery and operations to growth. Do that, and Lovable will be something more than an app builder. It will be part of the very infrastructure used to operate a business with AI.
