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Lovable logoFunding timeline

Lovable

Lovable is the Stockholm natural-language development platform that lets anyone build production-grade software by describing it — the category known as vibe coding.

Lovable logo
Founded
2023
Headquarters
Stockholm, Sweden
Founders
Anton Osika; Fabian Hedin
Sector
Natural-language app development (vibe coding)
Product launched
November 2024
Latest valuation
US$13.3B (Series C)
ARR
$400M annualized (Feb 2026)
Scale
60M+ projects; 900M monthly visits
Rounds recorded
5
Total raised
$952.5M
lovable.dev

Funding Timeline

Every disclosed equity round for Lovable, newest to oldest, with lead and participating investors where reported. Data is stored oldest-first; the timeline is displayed latest-first.

  1. Aug 12, 2026

    Series C

    $400Mat $13.3B valuationLatest
    Led by Menlo VenturesLed by Scaleup Europe Fund (EQT)Balderton CapitalCarmignacKaszek VenturesLTS GrowthTencentWorld Innovation LabRegentAccelAntlerCapitalGDST GlobalEvantic CapitalHubSpot VenturesSalesforce Ventures

    New investors from Europe, Latin America, Asia and the US; existing backers Accel, Antler, CapitalG, DST Global, Evantic, HubSpot and Salesforce rejoined.

    Source ↗

  2. Dec 18, 2025

    Series B

    $330Mat $6.6B valuation
    Led by CapitalGLed by Menlo Ventures (Anthology)NVenturesSalesforce VenturesDatabricks VenturesT.CapitalAtlassian VenturesHubSpot VenturesKhosla VenturesDST GlobalEQT GrowthKinship VenturesAccelCreandumEvantic

    Tripled valuation to $6.6B in roughly five months; strategic participation from Nvidia, Salesforce, Databricks, Deutsche Telekom, Atlassian and HubSpot venture arms.

    Source ↗

  3. Jul 17, 2025

    Series A

    $200Mat $1.8B valuation
    Led by Accel20VCbyFoundersCreandumHummingbirdVisionaries Club

    Europe's largest-ever Series A at the time; made Lovable a unicorn just eight months after launch.

    Source ↗

  4. Feb 25, 2025

    Seed (Pre-Series A)

    $15M
    Led by Creandum

    Creandum led the $15M round; at the time Lovable reported ~$17M ARR and 30,000 paying customers.

    Source ↗

  5. Oct 7, 2024

    Pre-Seed

    $7.5M

    Early backing round tracked by public funding databases; precedes the company's public product launch.

    Source ↗

The Story Behind the Numbers

From CERN Physicist to Europe's Fastest-growing Startup

Co-founder Anton Osika worked as a physicist at CERN before building and selling Depict.ai in Stockholm; he then founded Lovable in 2023 with Fabian Hedin. The product launched publicly in November 2024, and within eight months Lovable passed $100M in annualized revenue — a pace the company says beat OpenAI, Cursor and Wiz. By February 2026 it had reached $400M ARR five months ahead of its internal projections, and in June 2026 the company told TechCrunch it had hit roughly $500M annualized run-rate revenue.

Vibe Coding for Builders, Not Just Developers

Lovable lets users describe a website or app in everyday language and generates running, editable software — no hand-written code required. The platform has kept adding capabilities: monetization and payments components, SEO and AI search, integrations with Google Workspace, Microsoft 365, Salesforce, Stripe and ElevenLabs, plus automated security scanning before launch. It hosts more than 60 million projects that attract roughly 900 million monthly visits, and offers both frontier models and an in-house trained model.

Enterprise Penetration as the Moat

Investors argue Lovable's hardest-to-copy advantage is penetration inside large organizations: nearly two-thirds of Fortune 500 companies now have employees using the product, up from about half six months earlier. Lovable reaches non-technical staff in ways that developer-focused rivals such as Cursor, Windsurf and Cognition target less directly, and embeds into enterprise workflows. Customers include Adidas, Nvidia, Deutsche Telekom, Zendesk and Handshake; enterprise-contract revenue remains early at roughly $20M of the $400M total ARR (per Forbes).

Market and Competition

The AI code-generation market was estimated at roughly $9.5B in 2026 and is projected to reach $22-30B by 2030, growing over 20% annually. Lovable competes with Cognition, Replit, Cursor and a wave of vibe-coding startups. For reference, Cognition was last valued at $26B with roughly $490M in annualized revenue, giving it a higher revenue-to-valuation multiple; both companies are growing at similar momentum. Lovable's differentiation is its pull with non-technical employees and depth inside enterprise workflows.

Use of Funds and the Road Ahead

Lovable plans to grow to roughly 450 employees this year, hiring most heavily in machine learning, product, infrastructure and security, and to expand teams in London, Boston, San Francisco and New York while keeping its headquarters in Stockholm. The Series C will fund deeper enterprise integrations, permissioning and governance tooling, and continued fine-tuning of open-source models. Whether the $13.3B valuation holds will depend on converting the large pipeline of Fortune 500 pilot projects into formal commercial contracts.

More in the Atlas

Lovable's lead investors are profiled in the Investor Atlas when their firms join the directory. Track who backs every frontier AI round on the Funding Leaderboard.

Frequently asked questions

Why did Nvidia, Salesforce, Databricks, Atlassian and HubSpot's venture arms all join the Series B?

Because Lovable sits on their distribution: 60M+ projects and 900M monthly visits route through the integration surfaces those platforms control, so each strategic arm is securing a channel as much as a return. The Series C then rotated the money toward Tencent and asset managers such as Carmignac — capital that follows consumer-platform scale rather than product tie-ups.

If two-thirds of the Fortune 500 use Lovable, why is enterprise revenue only ~US$20M?

Because usage and procurement are different motions: employees adopt bottom-up (about 65% of Fortune 500 companies have users, up from half six months earlier), while contracts wait on permissioning and governance tooling. Cognition books the other way — Mercedes-Benz, Goldman Sachs, the US Army. Converting pilots into contracts is the Series C's job — and the valuation's open question.

Why does Cognition command a higher revenue multiple than Lovable?

Because investors price moat shape, not growth rate: Cognition's US$48B on ~US$900M run-rate is roughly 53x, against about 33x for Lovable (US$13.3B on US$400M ARR). Devin's regulated-enterprise wedge — FedRAMP High In-Process, federal MOUs — reads as harder to replicate than bottom-up app building; Lovable's counter is breadth: non-technical users across two-thirds of the Fortune 500.

How fast is Lovable's growth, measured against the cohort it gets compared to?

Eight months from the November 2024 launch to US$100M annualized — a pace the company says beat OpenAI, Cursor and Wiz — then US$400M ARR by February 2026, five months ahead of internal projections, and ~US$500M by June. Higgsfield's first US$100M took five months, nominally quicker, but its US$700M by August 2026 rides a viral-consumer base; Lovable's sits inside two-thirds of the Fortune 500.

Why do Europe's record rounds keep pointing at the same fund?

Because EQT's Scaleup Europe Fund — the EU-backed ~€5B vehicle — co-led both Lovable's US$13.3B Series C and Mistral's record €3B Series D, the largest equity raise by a European private tech company. The continent's AI financing now runs through a small set of repeat institutions: EQT spans the two biggest checks, while Accel, Creandum and DST recur from the Series A onward.