Lovable hits $13.3B valuation with $400M raise, 8 months after last mega-round

Stockholm-based Lovable just pulled off something that would have sounded absurd eighteen months ago: a $400 million Series C at a $13.3 billion valuation, roughly double where it sat in December. Menlo Ventures and the Scaleup Europe Fund led the round, with more than a dozen other investors piling in — including Regent, the investment firm that happens to own TechCrunch. That’s two mega-rounds in eight months, and the pace isn’t slowing.

The numbers tell a story of ferocious adoption. Lovable now claims 60 million projects hosted on its platform, pulling 900 million monthly visitors. Run rate revenue hit $500 million annualized in June. For a company whose entire pitch is letting people build software by describing what they want — no coding required — that trajectory puts it in rare company among European startups. Its previous round in December brought $330 million at a $6.6 billion valuation, also led by Menlo Ventures with CapitalG as co-lead.

What’s changing under the hood is just as interesting. Lovable isn’t just a wrapper around someone else’s models anymore. The company now runs its own in-house trained AI model alongside the usual frontier model options — a signal that vibe-coding platforms are maturing past thin API integrations. In June, it signed a multiyear Google Cloud deal that represents a fivefold increase in usage. That kind of infrastructure commitment suggests Lovable is betting its growth curve stays steep for a while.

Lovable has also started deploying its war chest strategically, backing other European startups like Danish company Atech, which is building vibe-coding software for hardware design. That’s a telling move: the company isn’t just defending its turf in software generation, it’s positioning itself as a hub for the broader no-code ecosystem. The open question is whether a $13.3 billion valuation holds up if the AI coding hype cycle cools. For now, investors are clearly betting that Lovable’s momentum — and Europe’s appetite for AI-native dev tools — has room to run.