Lovable, the prominent European vibe-coding startup, has officially corroborated earlier reports regarding its latest significant funding round, which values the company at an impressive $13.3 billion. The firm announced on Wednesday that it successfully secured $400 million in a Series C funding round. This substantial investment was spearheaded by Menlo Ventures and the Scaleup Europe Fund, with participation from over a dozen additional investors.
This substantial capital injection follows a period of robust growth for Lovable, which achieved an annualized run rate revenue of $500 million in June, as disclosed to TechCrunch. The company's prior funding round, announced in December, secured $330 million at a $6.6 billion valuation. That round was also led by Menlo Ventures, with CapitalG serving as co-lead.
The company's expansion has been significant, now supporting 60 million projects and attracting 900 million monthly visitors, necessitating a corresponding increase in its backend infrastructure and technological sophistication. Lovable distinguishes itself by offering both its proprietary in-house trained AI model and access to leading frontier AI models. Reflecting its escalating operational demands, Lovable formalized a multiyear agreement with Google Cloud in June, marking a fivefold increase in its cloud usage. Beyond its core operations, Lovable has also extended its support to other emerging European ventures, including the Danish startup Atech, which specializes in developing vibe-coding software for designing tech hardware.
Notably, Regent, the investment firm that also holds ownership of TechCrunch, is among the new investors participating in Lovable's Series C round.
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