Stockholm-based AI coding startup Lovable announced on Thursday that it raised $330 million in a Series B funding round at a $6.6 billion valuation. The valuation more than tripled from $1.8 billion following its $200 million Series A in July. The round brings total funding to over $500 million. CapitalG, Alphabet’s venture arm, and Menlo Ventures co-led the investment. Participants included Nvidia’s NVentures, Salesforce Ventures, Databricks Ventures, and Khosla Ventures.
Lovable, founded in 2023 by Anton Osika and Fabian Hedin, launched its platform in late 2024. The company reported annual recurring revenue of $200 million as of November, up from $100 million in July. It serves approximately 320,000 paying customers and sees over 100,000 new projects created daily.
“Lovable has done something rare: built a product that enterprises and founders both love,” said Laela Sturdy, managing partner at CapitalG, in a statement. “The demand we’re seeing from Fortune 500 companies signals a fundamental shift in how software gets built.”
Major enterprises using the platform include Klarna, Uber, Deutsche Telekom, and Zendesk. Lovable stated that Deutsche Telekom reduced development cycles from weeks to days. Zendesk shortened prototype development from six weeks to three hours.
The company plans to use the new capital to deepen integrations with third-party tools such as Stripe and Notion, expand enterprise features, and build infrastructure for production-ready applications. CEO Anton Osika aims to double the company’s headcount from 120 employees within the next year.
“If you’re a new company and you wish to build everything using Lovable, that should be entirely feasible,” Osika said.
The funding occurs amid competition in AI-assisted coding. Rival Cursor raised $2.3 billion in November at a $29.3 billion valuation, with backing from Accel and participation from Nvidia and Google. The market is projected to grow from $5 billion in 2023 to $26 billion by 2030.
