Swedish AI coding startup Lovable raised $400 million in a Series C round co-led by Menlo Ventures and EQT’s Scaleup Europe Fund, valuing the company at $13.3 billion. The platform lets users build working software from natural-language descriptions and has grown to more than 60 million user-created projects since launching in November 2024. Lovable’s annual recurring revenue has nearly tripled toward $600 million, and the round drew participation from Tencent, Balderton Capital, Accel, and Salesforce Ventures, among others.
