Lovable, Europe's flagship "vibe coding" startup, said Wednesday it has raised $400 million in a Series C round at a $13.3 billion valuation — doubling its valuation in eight months. The round was led by Menlo Ventures and the Scaleup Europe Fund, with more than a dozen other investors participating.
The Stockholm-based company, which lets people build software by describing it in natural language, hit $500 million in annualized run-rate revenue in June, the startup told TechCrunch. Its previous round, announced in December, brought in $330 million at a $6.6 billion valuation and was also led by Menlo Ventures. Lovable says it now hosts 60 million projects that attract 900 million monthly visitors.
As the platform has scaled, so has its backend: Lovable now offers its own in-house trained AI model alongside the usual frontier model options, and in June signed a multiyear deal with Google Cloud representing a fivefold increase in usage. The company has also begun backing other European startups, including Danish startup Atech, which is building vibe-coding software that designs tech hardware.
The raise is the latest sign of investor appetite for AI coding tools. Launched only in November 2024, Lovable has grown from a niche demo tool into one of Europe's most valuable software companies. "This funding lets us move faster on the product, infrastructure, and team needed to make Lovable the best place to build and run a business," the company said.
