Lovable Raises $400M at a $13.3 Billion Valuation, Doubling in Eight Months

Lovable, the Stockholm-based AI software creation platform, has raised $400 million in a Series C round at a $13.3 billion valuation, led by Menlo Ventures and co-led by EQT's Scaleup Europe Fund. It marks Menlo's second consecutive round leading Lovable, following its co-lead role in the company's $330 million Series B just eight months earlier, which valued the company at $6.6 billion. The round also drew a notably global investor base: 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, alongside returning backers including Accel, CapitalG, DST Global, and Salesforce Ventures.

The raise follows a period of rapid growth. Lovable's revenue run rate has more than doubled since the Series B and now stands more than seven times higher than a year ago, crossing $500 million in annualized revenue in June 2026. Paying customers have more than doubled over the same period, and monthly sessions on Lovable-built applications have grown more than 4.5 times. The company plans to use the new funding to grow its global workforce to 450 employees, with hiring focused on machine learning, infrastructure, and security, while expanding its offices in London, Boston, San Francisco, and New York.

EQT's Scaleup Europe Fund, a newer vehicle aimed specifically at helping European companies scale into global leaders, counts Lovable among its first investments. Menlo Ventures, for its part, has now backed Lovable across two consecutive rounds in under a year, a pattern of repeat conviction worth watching as Lovable's next chapter takes shape.