What happened
On August 12, 2026, Stockholm-based Lovable announced it raised $400 million in Series C funding at a $13.3 billion valuation—more than double the $6.6 billion it commanded in December 2025. Menlo Ventures led the round, with the EQT-managed Scaleup Europe Fund co-leading. New investors include Tencent, Balderton Capital, and Kaszek Ventures from Latin America.
The details
Lovable is a "vibe-coding" platform that lets users describe software in plain language and get working applications. Since launching publicly in November 2024, users have built over 60 million projects that attract 900 million monthly visits. The company hit $500 million in annualized revenue in June 2026, up from $200 million in November 2025, and expects to reach $600 million by the end of August. It reached $100 million in ARR in just eight months, the fastest in software startup history.
Why it matters
Lovable is part of the prompt-to-production wave reshaping how software gets built—alongside Cursor, Replit, and others. The pitch is speed: non-technical founders can ship apps in hours. The trade-off is stack control. You're building on Lovable's platform, using their AI models, deploying to their infrastructure. When your entire product sits on someone else's runtime, "building your business" starts to look a lot like "renting someone else's." The valuation says investors believe that trade-off is one most teams will accept. The question for builders: should you?