Lovable Raises $330 Million in Series B Funding Valued at $6.6 Billion
Lovable, the AI software development startup specializing in vibe-coding, announced that it has raised $330 million in a Series B funding round led by CapitalG and Menlo Ventures, bringing the company’s valuation to $6.6 billion.
According to the company statement, Lovable plans to invest the new funding in enhancing integrations with third-party applications, improving platform features for enterprise clients, and expanding infrastructure to include database, payment, and hosting services, enabling users to build fully integrated applications and services.
Founded in early 2024, the company has attracted attention from major tech firms including Klarna, Uber, and Zendesk. Its platform allows users to create complete applications using plain-text commands without advanced technical knowledge, driving exceptional revenue growth—surpassing $100 million in annual recurring revenue within eight months, and doubling to over $200 million just four months later.
At the Slush conference in Helsinki, co-founder and CEO Anton Ossika emphasized that the company’s decision to remain in Sweden rather than move to Silicon Valley was beneficial, highlighting that building world-class tech companies from Europe is possible with vision, commitment, and talent attraction.
The AI coding sector has seen growing interest from venture capital firms, with competitor Cursor raising $2.5 billion in November, increasing its valuation to $29.3 billion, underlining intense competition and opportunities in this promising tech space.
