Lovable, the Stockholm-based platform that lets people build software and apps by describing them, announced on 12 August 2026 that it had raised $400m in a Series C round at a $13.3bn valuation.
Menlo Ventures led the round, and the Scaleup Europe Fund, managed by EQT, co-led it. New investors were Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the US. Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures returned.
According to Tech.eu, the new valuation is more than double the $6.6bn Lovable was valued at when it raised $330m in December 2025.
“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. That focus has created extraordinary growth, a product people love, and a market that expands every time someone becomes a founder or a company rethinks how software gets made.”Matt Murphy, Partner, Menlo Ventures
What Lovable does
Lovable launched in November 2024. The company said users have since created more than 60 million projects on the platform, and that apps built with it receive more than 900 million visits a month. It said it reached employees at half of the Fortune 500 within its first year, and that the share has since risen to nearly two-thirds.
In a user survey cited by the company, nearly eight in ten respondents said they were building a business or side project they hoped to make money from, and more than a third of those said they already earned revenue. Lovable named Adidas, NVIDIA and Deutsche Telekom among the established companies whose teams use it, and published comments from customers at Zendesk, Handshake and Checkr.
Since its Series B the company has added payment features, search and AI-search discoverability tools, integrations with Google Workspace, Microsoft 365, Salesforce, Stripe and ElevenLabs, automatic and scheduled security scanning, and governance controls for businesses. It also gained AIUC-1 certification, a security standard for AI agents.
The funding so far
Tech.eu reported that Lovable raised a $15m pre-Series A round in February 2025, bringing its total at that point to $22.5m. In July 2025 it raised a $200m Series A led by Accel at a $1.8bn valuation, when it had 45 staff.
The Series B followed in December 2025: $330m at a $6.6bn valuation, led by CapitalG and Menlo Ventures, TechCrunch reported. Menlo has now led or co-led two rounds in a row. Lovable did not give revenue figures in its Series C announcement, and it did not state a total raised to date.
What the money is for
Lovable said it would spend on product, infrastructure and hiring, around three priorities. The first is to make the product more proactive and more closely connected to the software companies already use, while tightening security, permissions and governance. The second is to train its system on which building choices lead to outcomes such as revenue. The company said it would keep using several AI models and continue post-training open-source models.
The third priority is hiring. Lovable said it plans to grow to about 450 people this year, mostly in machine learning, product, infrastructure and security. Tech.eu put that at a 50% increase. Stockholm will remain its main base, with expansion in London, Boston, San Francisco and New York.
EQT said the deal was among the first investments of its Scaleup Europe Fund. Tech.eu named Replit as a competitor and noted that Anthropic and OpenAI could become rivals.
Company website: lovable.dev