Swedish vibecoding startup Lovable has more than tripled its valuation in just five months.
Stockholm-based Lovable announced Thursday that it has raised $330 million in a Series B funding round led by CapitalG and Menlo Ventures at a valuation of $6.6 billion. Khosla Ventures, Salesforce Ventures, and Databricks Ventures also participated, as well as other investors.
The raise comes just months after Lovable raised $200 million in a Series A round that valued the company at $1.8 billion in July.
One of the first companies to capitalize on the AI boom, Lovable has built a “vibe coding” tool that allows people to write code using text prompts and build complete apps. The company was founded in 2024 and has experienced impressive growth. Within eight months, the company reached its vaunted ARR milestone of $100 million, and just four months later, it doubled that amount to over $200 million in annual recurring revenue.
The company counts major software names like Klarna, Uber, and Zendesk as customers, and claims that over 100,000 new projects are built on its platform every day, with over 25 million projects created in its first year.
Lovable said it will use the new funding to build deeper integrations with third-party apps, expand functionality for enterprise use cases, and flesh out the platform with the infrastructure (databases, payments, hosting, etc.) needed to build full-fledged applications and services.
Lovable co-founder and CEO Anton Osika said on stage at this year’s Slush conference in Helsinki, Finland, that he believes in the company’s ability to scale given his decision to ignore calls from investors to move to Silicon Valley.
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“It was tempting, but I really resisted it,” Osika said on stage at a conference in November. “I [can] Let’s sit here now and say, “Look, guys, we can build a global AI company out of this country.” If you have a strong mission and an urgency to work together as a group, there will be more talent available. ”
In November, the company was accused of not paying value-added tax (VAT), which applies to most goods and services in the European Union. Osika acknowledged this in a LinkedIn post, saying the company would improve the situation and shutting down comments that suggested such taxes were the reason the EU was unsuitable for high-growth startups.
Vibe coding continues to be a hot investment area for VCs. Cursor, another vibecoding darling, raised $2.3 billion in November at a $29.3 billion valuation. Like Lovable, this is also the company’s second funding round this year, having doubled in valuation between June and November.
TechCrunch has reached out to Lovable for additional information.
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