Lovable, a Swedish AI startup that provides a platform for vibe coding, has reached a $13 billion valuation after its latest fundraising round. The Series C round raised $400 million from investors including Menlo Ventures and the Scaleup Europe Fund. The company’s valuation has more than doubled since its previous funding round in December 2025.

The Lovable platform enables users to build their own apps and websites without manually writing code. Many people use Lovable’s platform to build businesses or side projects that they aim to monetize. It empowers individuals to turn ideas into software without technical coding skills. The user describes the desired outcome to the AI using natural language prompts, and the AI generates the source code. A free version of Lovable’s vibe coding tools is available, or users can upgrade to a professional version for a monthly fee.

The Swedish startup reportedly has over 900 million monthly visitors and hosts 60 million projects on its platform. The majority of its users do not have technical skills. Lovable recently surpassed $500 million in annual recurring revenue.

Like many AI companies, Lovable has experienced explosive growth in a short timeframe. Launched in November 2024 by Anton Osika and Fabian Hedin, Lovable reached $100 million in annual recurring revenue just 8 months later. It is currently considered one of the most valuable startups in Europe. Lovable is headquartered in Stockholm, Sweden and has offices in London, Boston, New York, and San Francisco.

Anton Osika, the co-founder and CEO of Lovable, previously worked as a particle physicist and was an early employee at Sana Labs, a Swedish AI platform that was sold to Workday. He also co-founded Depict.ai, a product recommendations engine for e-commerce platforms.

Vibe-coded software has drawn criticism for contributing to “AI slop” and creating cybersecurity vulnerabilities. Lovable implements a number of protective security measures, including integrations with security providers such as Okta. The platform also enables users to control the privacy settings on their projects and prevent the public from viewing their work product.

Competition in the vibe-coding market is fierce. Lovable faces competition from rivals such as Replit and Cursor. Replit is a California-based company that recently hit a $9 billion valuation. Cursor, also a California-based company, was recently acquired by SpaceX in a $60 billion deal. OpenAI and Anthropic also have their own tools that can write code, known as Codex and Claude Code, respectively.

As Lovable continues to grow, it may face increased pressure to maintain a larger U.S. pressure. Many of its investors are based in the United States and view the European technology ecosystem as a relatively small market in comparison. The leading AI technology companies in European include Mistral AI in France and Helsing in Germany.

In August 2025, Lovable announced a partnership with Cerebras Systems, a developer of semiconductors and supercomputers used for AI inference. The partnership aims to improve speed and efficiency on the Loveable platform.