European "Vibe-Coding" startup Lovable officially announced on August 12 that it has completed a $400 million Series C financing round, with its valuation surging to $13.3 billion. The round was led by Menlo Ventures and Scaleup Europe Fund, with more than a dozen well-known investment institutions including Regent participating.
This valuation marks a doubling from its $6.6 billion valuation in December last year when it raised $330 million led by Menlo Ventures and CapitalG, indicating that AI-generated development tools are experiencing commercial breakthroughs and continued enthusiasm from the capital market.
As an AI-driven code generation and development platform, Lovable's explosive growth has directly accelerated its commercialization process. The company successfully achieved a $500 million annual recurring revenue (ARR) in June this year, and the number of projects hosted on its platform has now exceeded 60 million, attracting as many as 900 million monthly visitors.
In response to the increased backend computing power and complex architecture demands brought about by the rapid expansion of its business, Lovable offers mainstream advanced large models while also launching its independently developed AI model. In June this year, it signed a multi-year cooperation agreement with Google Cloud, leading to a fivefold increase in computing power usage. Additionally, Lovable is accelerating its local ecosystem building in Europe, strategically investing in Danish hardware design Vibe-coding startup Atech.
At a time when generative AI is reshaping software development paradigms, Lovable's rapid rise not only demonstrates the strong profitability potential of the AI code generation field, but also indicates that AI-assisted development is rapidly evolving from single-code completion to full-process autonomous construction.
