Lovable Lands $330M, Joining Europe’s Most Valuable AI Startups at $6.6B

Lovable has raised $330 million in a Series B round led by CapitalG and Menlo Ventures, valuing the Swedish AI startup at $6.6 billion. The deal marks a sharp step up from the $1.8 billion valuation set just five months earlier and places Lovable among the most highly valued private software companies in Europe.

The round reflects the company’s rapid commercial momentum. Lovable says annual recurring revenue has reached $200 million, up from $100 million in July 2025, with roughly 320,000 paying customers. Growth accelerated after the launch of its latest product late last year, which expanded its appeal beyond early adopters to founders, small businesses, and enterprise teams.

While much of the attention around AI and coding has focused on tools built for professional developers, Lovable’s rise points to a broader shift: software creation moving further upstream to non-technical users. Investors argue this has materially expanded the addressable market, turning people who would previously have relied on engineers into independent builders.

Usage data suggests that the software being created is not merely experimental. According to the company, applications built on Lovable attract around six million daily visitors, a metric its leadership views as a proxy for real economic activity rather than technical engagement alone.

Enterprises have emerged as a second major customer group, particularly for rapid prototyping. Product managers at large organisations report cutting development cycles from weeks to hours, a use case that helped convince backers that Lovable’s appeal extends beyond individual entrepreneurs.

The new funding will be used to deepen integrations with other software platforms and to improve reliability and scalability, with the aim of supporting full production workloads. The company also plans to double its headcount from about 120 employees over the next year.

Lovable faces competition from design and development platforms such as Figma and Replit, which are adding AI-driven coding tools, as well as from large model providers including Google and OpenAI that are moving closer to end-user software. Investors say Lovable’s strength is its ability to sit on top of those models with a product customers already use at scale.

Sources:
Lovable
Menlo Ventures
The New York Times
TechCrunch
CNBC
Tech.eu
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J.V.