Lovable doubles its valuation to $13.3B

Swedish “vibe-coding” startup Lovable closed a $400 million Series C on August 12 at a $13.3 billion valuation, double the $6.6 billion it was valued at in December when it raised $330 million. Menlo Ventures and the EU-backed Scaleup Europe Fund led the round, with new investors including Tencent joining from Latin America and Asia.

Lovable says annual recurring revenue has nearly tripled from $200 million and is tracking toward $600 million by the end of August. Since its November 2024 launch, users have built more than 60 million projects on the platform, and apps made with Lovable now pull in upward of 900 million visits every month. The company plans to grow headcount 50% to 450 employees across its Europe and US offices this year.

What it means for you

A valuation doubling in eight months is a headline number that says more about investor appetite than about the product, the revenue trajectory underneath it, roughly tripling ARR in the same window, is the harder evidence that non-developers building real, shipped software with natural-language prompts is turning into sustained usage rather than a novelty spike. If you’re evaluating coding agents as a non-developer or comparing AI-assisted build tools for your own team, Lovable’s growth numbers are a useful benchmark for how fast this category is actually moving, and its expanding investor base out of Asia is worth watching if you’re assessing where the next wave of platform-specific integrations and language support is likely to show up first. It’s the latest in a run of AI-application valuations climbing well past their last mark, alongside Databricks’ $188B valuation earlier this year, a sign investors are pricing usage growth, not just model capability, as the thing that compounds.