Lovable raises a $400M Series C at a $13.3B valuation

What the company announced

On 12 August 2026, Lovable announced that it had raised $400M in a Series C round at a valuation of $13.3B^[1]. A Series C is a later-stage funding round: the company has usually shipped a product and attracted a user base, and the new money is meant to pay for expansion rather than for getting a first version out of the door. The headline figures here are the size of the round and the valuation attached to it, both of which the company made public on the same day^[1].

Who put money in

Menlo Ventures led the round, and the Scaleup Europe Fund, which is managed by EQT, co-led it^[1]. Behind those two names the investor list was unusually wide geographically. New investors included Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the United States^[1]. Alongside them were a group of returning investors — Accel, Antler, CapitalG, DST Global, Evantic, HubSpot Ventures and Salesforce Ventures — firms that had already put money into the company in earlier rounds and were putting in more^[1]. The mix of regions and of investor types is itself a signal of where the company expects its users to come from.

The numbers cited

Lovable gave two usage figures to go with the round. The first is scale of creation: users had created more than 60 million projects since the platform launched in November 2024^[1]. The second is whether those projects go on to be used: apps built with Lovable see over 900 million visits every month^[1]. The two numbers measure different things. A project count records how often people start something; a traffic figure measures what happens after the thing has been built and put in front of an audience. Publishing both together is a way of arguing that the platform produces working software rather than abandoned drafts.

What the money is for

The company described the round as aimed at helping people run their businesses, not only build apps^[1]. That framing is narrow but specific. Building an app is a single act; running a business with one is a continuing job that involves keeping it working, changing it as needs change, and fitting it into the rest of what a business does. In other words, the stated purpose of the round is to widen what the platform covers, from the moment of creation toward the ongoing work that follows it^[1].

Why it matters

For a company that launched in November 2024, a $13.3B valuation and a $400M round less than two years later is a striking pace of fundraising^[1]. It says something about how much capital is currently moving toward tools that let people build and operate software themselves, and about investors' willingness to price that category on usage growth — projects created, visits served — rather than on more conventional measures of revenue. The round also shows a European-founded investor base and Latin American and Asian funds joining a US-led deal, which suggests the category is being chased across markets rather than in one place^[1].

What the announcement does not settle is whether the usage figures translate into durable businesses. Millions of projects and hundreds of millions of monthly visits describe activity; they do not by themselves describe what users pay for or how long they stay. The company's own framing — from building apps to running businesses — is an argument that the next stage of growth depends on exactly that question^[1].