Lovable, Europe’s breakout vibe-coding startup, just confirmed a raise that had been circulating as rumor for weeks. According to TechCrunch AI, the company said Wednesday it pulled in $400 million in a Series C round at a $13.3 billion valuation, led by Menlo Ventures and the Scaleup Europe Fund, with more than a dozen other investors joining in.
What stands out here is the speed. Lovable’s previous round closed in December at a $6.6 billion valuation. That means the company roughly doubled its price tag in about eight months. Menlo led both rounds, which tells you the existing backers wanted more of the company, not less.
The numbers behind the raise
Investors aren’t paying up on vibes alone. TechCrunch AI reports Lovable hit $500 million in annualized run rate revenue in June, and the usage figures are just as loud:
- 60 million projects hosted on the platform
- 900 million monthly visitors
- A fivefold jump in usage tied to a new multiyear Google Cloud deal signed in June
For a company selling AI-assisted app building, those are the metrics that justify a valuation like this. Revenue is real, growth is steep, and the infrastructure spend is scaling to match.
Why this matters
Vibe coding, letting people build working software by describing what they want in plain language, has become one of the hottest categories in AI. Lovable sits alongside names like Cursor, Replit, and Cognition’s Devin in a market that investors clearly believe is enormous. This raise is a signal that European AI startups can now command US-scale valuations without relocating to San Francisco.
It also shows how the category is maturing past the frontier-model wrappers that defined its early days. Lovable now runs its own in-house trained AI model alongside the usual third-party frontier options. That’s a meaningful shift. Building your own model is expensive and hard, and it suggests Lovable wants to control cost, performance, and product experience rather than renting all of that from OpenAI or Anthropic.
Lovable is turning into a platform, not just a product
The company is starting to act like an ecosystem player. It has backed other European startups, including Denmark’s Atech, which is building vibe-coding software for designing physical tech hardware. That’s an early bet that natural-language building won’t stay confined to web apps.
Here’s how the picture looks compared to a year ago:
- Then: A fast-growing app builder leaning on frontier models
- Now: A $13.3B company with its own model, major cloud infrastructure, half a billion in run-rate revenue, and a startup portfolio of its own
That’s the trajectory of a company trying to become foundational to how software gets built, not just another tool in the stack.
What to watch next
This is significant because it raises the stakes for everyone in the vibe-coding race. With $400 million fresh in the bank and infrastructure locked in through Google Cloud, expect Lovable to push harder on its own model, expand internationally, and keep writing checks to startups that extend its reach. The pressure now lands on competitors to show comparable revenue, not just user counts.
The open question is durability. Run-rate revenue can climb fast in AI and cool just as quickly if retention doesn’t hold. A $13.3 billion valuation assumes this growth is a trend, not a spike. The next few quarters will tell us which one it is.
One disclosure worth flagging: TechCrunch AI notes that one of Lovable’s new Series C investors is Regent, the firm that also owns TechCrunch. Worth keeping in mind as this story develops.
You can find the full details at the original TechCrunch AI report.