$400m · Series C · Software · Stockholm, Sweden
Stockholm-based Lovable has raised a $400m Series C at a $13.3bn valuation, with Menlo Ventures leading and the EQT-managed Scaleup Europe Fund co-leading. The company named Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab and Regent among the new investors, alongside returning backers including Accel, CapitalG and Salesforce Ventures.
Lovable lets people create software by describing what they want in natural language. Since launching in November 2024, the company says users have created more than 60m projects, while Lovable-built applications receive over 900m visits each month. It also says employees at nearly two-thirds of the Fortune 500 now use the platform.
From creation tool to operating layer
The financing backs a broader proposition than faster prototyping. Since its Series B, Lovable has added payment functionality, search-discovery tools, integrations with Google Workspace, Microsoft 365, Salesforce, Stripe and ElevenLabs, and more security and governance controls. Menlo says the platform also brings databases, storage, authentication, model access, custom domains and analytics into the same environment.
That changes the commercial mechanism. Lowering the cost of creating an application wins the initial user; hosting and operating what they build can make revenue expand as a project finds customers and handles more work. It can also deepen reliance on Lovable, because the generated interface, data layer, payments and deployment environment increasingly sit together. The trade-off is that reliability, permissions and security become more consequential once a prototype turns into production software.
Regent illustrates that progression from customer to investor. The group says it uses Lovable across its portfolio to build operational tools, and that its corporate website is built and hosted on the platform. That is useful evidence for enterprise demand, although it remains an investor-reported example rather than an independent measure of adoption.
Capital for the reliability test
Lovable plans to use the round to accelerate product development, infrastructure and hiring. It expects to grow to roughly 450 employees during 2026, concentrating recruitment in machine learning, product, infrastructure and security while keeping its centre of gravity in Stockholm and expanding teams in London and the US.
Menlo reports that Lovable’s revenue run-rate has more than doubled since the December 2025 Series B, paying customers have more than doubled and monthly sessions on Lovable-built apps have risen more than 4.5x. Those figures are investor-reported, but they explain the size and timing of the round. The next test is whether Lovable can convert rapid creation into durable, governed software that customers continue to run, monetise and trust.
Sources checked:
Lovable company announcement · Menlo Ventures · Reuters via Euronext · Regent · Tech.eu Funding Explorer
