AI Programming Platform Lovable Completes $400 Million Series C Financing, Valuation Reaches $13.3 Billion
AI programming platform Lovable has completed $400 million in Series C financing, with a valuation reaching $13.3 billion.
This round was led by Menlo Ventures, with the EQT-managed Scaleup Europe Fund co-leading, and participation from Tencent and other institutions.
Lovable's valuation was $6.6 billion in the B round last December, doubling in less than 8 months.
Since its launch in November 2024, users have created over 60 million projects, with these applications receiving over 900 million visits per month, and annualized revenue nearing $600 million.
Lovable allows users to generate websites and apps directly through natural language, and will shift from "helping you build software" to "helping you run your business," actively understanding goals and executing workflows in sales, operations, and marketing.
Market mechanisms indicate that financing is driven by the rapid growth of AI programming tools, with capital flowing towards natural language generation and business automation platforms; beneficiaries are early investors and product expansion capabilities, while traditional low-code and manual development service providers face pressure.
The new funds will be used for product, infrastructure, and team expansion.
Source: Public Information
ABAB AI Insight
Lovable has rapidly grown from natural language generation software to a high-usage platform, with its valuation doubling and revenue soaring in a short time, attracting top global venture capital and strategic investors to the European AI application layer.
In terms of capital strategy, the company will use the financing to extend from code generation to full business workflow automation, motivated by the goal of locking in users throughout the entire lifecycle from building to operations, with resources directly converting project creation volume into recurring revenue and enterprise-level expansion.
Similar cases can be seen in the rapid financing cycles of other AI programming and low-code platforms, as well as the trend of current European AI startups catching up with American giants under global capital support, with the AI application layer transitioning from tools to business operating systems.
The structural judgment indicates a technological substitution, with the mechanism being that natural language interfaces significantly lower the barriers to software construction, enabling non-technical users to generate and operate applications, accelerating the replacement of traditional development processes.
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