AI App Builder Lovable Raises $400 Million Series C at $13.3 Billion Valuation

Lovable, the AI-powered software creation platform, has raised $400 million in a Series C funding round that values the company at $13.3 billion. The round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT. The announcement was made on the company's official blog on August 12, 2026. For the latest AI industry coverage, visit AI Buzz Wire.

A Global Investor Syndicate

The funding round brings together investors from across the world. New participants include Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the United States. Returning investors include Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures.

Menlo Ventures, which has backed several of the most consequential companies in the AI era, deepened its commitment by leading the round. EQT selected Lovable as one of the first investments of its Scaleup Europe Fund, a vehicle designed to help Europe's most ambitious companies become global leaders.

Explosive Growth Metrics

The growth numbers behind Lovable's valuation are striking. Since launching in November 2024, users have created more than 60 million projects on the platform. Lovable-built applications now receive over 900 million visits every month.

The company's enterprise penetration has also expanded significantly. Within its first year, Lovable reached employees at half of the Fortune 500. Less than a year later, that figure has grown to nearly two-thirds of the Fortune 500, with teams at companies including Adidas, NVIDIA, and Deutsche Telekom using the platform.

User survey data reveals that nearly 8 in 10 builders on Lovable are creating a business or side project they hope to monetize, and more than one-third of those are already earning revenue.

Enterprise Adoption and Customer Testimonials

Companies are increasingly using Lovable to build software around critical workflows. Jorge Luthe, Senior Director of Product at Zendesk, described how the platform evolved from a prototyping tool into a resource for building internal products including training tools and a custom roadmap application.

Veronika Zatulovskaya, VP of Marketing at Handshake, noted that teams have built campaign planning tools, onboarding experiences, and internal AI resource hubs using the platform, giving them more control and speed.

What the Funding Will Fund

Lovable outlined three priorities for the new capital:

1. Platform expansion: Making Lovable the best platform to build and run a business, with more proactive features, deeper integrations with existing technology stacks, and strengthened security, reliability, and governance.

2. Training on success signals: As millions of people build with Lovable, the system is learning which choices lead to stronger outcomes. The company aims to understand not only whether products are built correctly, but whether they go on to generate revenue, improve workflows, or help businesses grow. This compounding loop surfaces aggregate patterns to improve the experience for every builder.

3. Hiring and global expansion: Lovable plans to grow to roughly 450 team members this year, hiring most heavily in machine learning, product, infrastructure, and security roles. The company will maintain its center of gravity in Stockholm while expanding in London, Boston, San Francisco, and New York.

A European Success Story

Lovable positions itself as a generational technology company with deep European roots and extensive global reach. The company's founders, Anton Osika and Fabian Hedin, have built one of the fastest-growing AI companies from Europe, proving that the region can produce category-defining startups.

Victor Englesson, Partner at EQT and Co-Head of the Scaleup Europe Fund, praised the team for building one of the most ambitious and fastest-growing AI companies the fund has seen, calling it proof that Europe has no shortage of exceptional founders.

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