Lovable Triples Valuation to $6.6 Billion on Explosive AI ‘Vibe-Coding’ Growth

New updates have been reported about Lovable (PC:LOVAB)

Lovable, the Stockholm-based AI “vibe-coding” platform, has rapidly emerged as a key player in developer productivity software, tripling its valuation to $6.6 billion in just five months on the back of exceptional revenue growth and aggressive product expansion. The company has raised a $330 million Series B led by CapitalG and Menlo Ventures, with participation from Khosla Ventures, Salesforce Ventures, Databricks Ventures and others, following a $200 million Series A in July that valued the company at $1.8 billion. Founded in 2024, Lovable’s generative AI tool allows users to build production-grade applications via natural-language prompts and has quickly converted usage into revenue, reaching $100 million in annual recurring revenue (ARR) within eight months and surpassing $200 million ARR only four months later. The platform is seeing heavy adoption from enterprise and high-growth software customers, counting Klarna, Uber and Zendesk among its users, and reports that more than 100,000 new projects are created on its platform daily, with over 25 million projects built in its first year.

Management plans to deploy the new capital to deepen integrations with third-party software, enhance enterprise-grade capabilities, and build out core infrastructure services—such as databases, payments, and hosting—to support full end-to-end application development and deployment on Lovable’s stack, positioning the company to capture more of the value chain and increase ARPU over time. Strategically, CEO and co-founder Anton Osika has kept the company headquartered in Sweden despite investor pressure to relocate to Silicon Valley, arguing that remaining in the Nordics has enabled access to strong talent while proving that a global AI company can scale from within the EU. Lovable has also faced scrutiny over its failure to initially charge value-added tax (VAT) in the EU; Osika publicly acknowledged the issue, committed to remediation, and disabled comments framing European tax policy as hostile to high-growth startups, signaling a pragmatic approach to regulatory risk. The company’s trajectory is set against a broader surge in AI-powered coding tools, as investor interest intensifies in “vibe-coding” platforms that compress software development cycles and potentially reshape spending patterns across cloud, infrastructure, and developer-tooling budgets.