Lovable raises $400M Series C round, doubles its valuation to $13.3 billion
This news was covered in today's PRO newsletter.
Lovable, the Swedish AI web app builder, has today announced a $400M Series C funding round, raised at a $13.3B valuation. That's a doubling from the company's $330M Series B in late 2025.
The funding and anticipated ballpark figures had been rumoured for a few months already.
This massive new round was co-led by existing investor Menlo Ventures, and new investor Scaleup Europe Fund, managed by EQT.
A few more new investors joined in, such as 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. Many returning investors also participated, including Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures.
The Stockholm-headquartered company did not update its public annualised recurring revenue figure in conjunction with today's funding news. The latest official milestone, $500M, was reported in June. Though in July, Seb Johnson noted in the Scaling Europe newsletter that he heard that ARR already crossed $600M.
In its blog post on the Series C round, Lovable highlights three priorities for the coming months: The startup wants to provide the best platform to build and run a business, to train its system on what success looks like, and to "assemble generational talent to build what is next".
Lovable was founded in late 2023 by Anton Osika and Fabian Hedin, and emerged from the open source project GPT Engineer. Swedish Tech News PRO subscribers learned first about the plan to launch a startup in early January 2024, and first about "Lovable" on February 2, 2024.
