Lovable raises $400M Series C at $13.3B valuation

Lovable has raised a $400 million Series C at a $13.3 billion valuation, roughly double what investors put on the European AI coding startup eight months ago. Menlo Ventures and the Scaleup Europe Fund led the round, joined by more than a dozen other investors. Menlo also co-led Lovable's $330 million Series B in December 2025, which valued the company at $6.6 billion.

Lovable said its annualized run rate reached $500 million in June, and that its platform now hosts 60 million projects with roughly 900 million monthly visitors. The company builds an in-house AI model alongside integrations with frontier models from other labs, and signed a multi-year Google Cloud deal in June that it says increased its compute usage fivefold.

The round lands in the middle of a funding scramble among AI coding startups. Cognition is reportedly in talks to raise at a $40 billion valuation just months after its own $1 billion round, and SpaceX closed its acquisition of Cursor earlier this month. Investors are pricing vibe-coding tools well ahead of typical revenue multiples, betting the category keeps compounding as more non-engineers and small teams use AI agents to ship software.

The fundraising itself doesn't change what Lovable does for a developer today. What's worth watching is where the capital goes: continued work on Lovable's in-house model and the infrastructure buildout behind it, both of which shape cost and reliability for anyone building on the platform rather than just prompting it for a prototype.