Lovable doubles valuation to $13.2B with $300M raise

Lovable, a Swedish vibe-coding startup, is reportedly negotiating a $300 million funding round at a $13.2 billion valuation — exactly double the $6.6 billion it commanded just last December, according to Sifted. The round is expected to be led by Menlo Ventures, which announced a new $3 billion fund last month. Founded less than three years ago, Lovable hit an annualized revenue run rate of $500 million by June 2025, making it one of the fastest-growing AI companies in Europe.

The company's product allows users — from founders and individual designers to sales professionals — to build fully functional websites and e-commerce storefronts simply by describing what they want. This “vibe coding” approach is proving to be the most commercially successful use case for generative AI. Lovable also sells to large enterprises like Workday, Asana, and Nvidia. Competitors include Replit (valued at $9B in March), Factory ($1.5B valuation in April), and Cursor, which was recently acquired by SpaceX for $60 billion.