Industry AI Minute Newsroom 2026-08-13

Lovable raised $400 million at a $13.3 billion valuation — 21 months after it launched

Lovable, the Stockholm company whose product turns a written description into a working web app, announced a $400 million Series C on 12 August at a valuation of $13.3 billion. Menlo Ventures co-led with the Scaleup Europe Fund, managed by EQT; Balderton, Carmignac, Kaszek, Tencent, World Innovation Lab, LTS Growth and Regent joined, alongside returning backers Accel, Antler, CapitalG, DST Global, HubSpot Ventures and Salesforce Ventures. The company says more than 60 million projects have been built on it since it launched in November 2024, that apps made with it draw over 900 million visits a month, and that it is used somewhere inside nearly two-thirds of the Fortune 500. It did not disclose revenue. By its own figures, eight in ten users are building something they hope to sell, and more than a third are already earning from it.

Why it mattersThe valuation is the headline; the traffic number is the thing worth watching. Nine hundred million visits a month means the output of this category has stopped being demos and become software with real users on it — which also means it now has to hold up under load, under attack, and under someone else's data. The people shipping it increasingly cannot read it. Every round of this size is the same bet: that describing software will replace writing it faster than the resulting software breaks. Nobody has published the numbers that would settle which is winning.

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Lovable raised $400 million at a $13.3 billion valuation — 21 months after it launched

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