Swedish startup Lovable has raised $330 million in Series B funding at a $6.6 billion valuation, tripling its worth from $1.8 billion in just five months for AI-native vibe coding platform that enables utilizers to build software applications through natural language prompts rather than traditional programming.
The funding round was led by CapitalG and Menlo Ventures’ Anthology fund, with participation from NVentures (NVIDIA’s venture arm), Salesforce Ventures, Databricks Ventures, and Khosla Ventures.
This raise follows Lovable’s $200 million Series A round completed in July 2024. The rapid valuation increase of 267% in five months reflects strong demand for AI-powered development tools that lower technical barriers to software creation. Here’s what’s driving Lovable’s meteoric rise and what it means for the future of software development.
What is Lovable and Vibe-Coding?
Lovable operates a vibe-coding platform where utilizers create full-stack applications applying conversational text prompts instead of writing code. The platform translates natural language descriptions into functional software, allowing non-technical utilizers to build production-ready applications.
Founded in 2023 by Anton Osika and Fabian Hedin, Lovable vibe coding startup tarreceives professionals across industries who required software solutions but lack programming expertise, including marketers, healthcare professionals, and business operators.
The vibe coding platform provides built-in hosting, authentication, payment processing, and database functionality. This integrated approach positions Lovable as a comprehensive development environment that handles projects from initial concept through production deployment.
The company describes its market opportunity as serving the “age of the builder,” where software creation becomes accessible to millions of professionals previously excluded by technical requirements.
Swedish Startup Lovable Record-Breaking Growth
Swedish Startup Lovable reached $100 million in annual recurring revenue within eight months of launch, then doubled to $200 million ARR in the following four months.
The platform hosts over 100,000 new projects daily and has facilitated creation of more than 25 million projects in its first year. Applications built on the platform have received over 500 million combined visits in the last six months, according to company statements.
Customer success cases demonstrate the platform’s commercial viability. Lumoo, an AI fashion platform, reached €800,000 ARR within nine months of applying Lovable. ShiftNex, a healthcare staffing solution, achieved €1 million ARR in five months. Q Group, a Brazilian EdTech company, generated €3 million in revenue within 48 hours of launching a premium product built on the platform.
Lovable’s Enterprise Clients applying Vibe Coding
Lovable has secured enterprise clients including Klarna, Deutsche Telekom, Uber, and Zconcludeesk. These organizations utilize the vibe-coding platform to reduce development cycles and prototype concepts that previously required weeks or months through traditional development processes. A professional services firm reports applying Lovable to streamline competitive bid processes, while Deutsche Telekom has integrated the platform into its product development workflow.
“AI is transforming how enterprises build and validate products. For a 2,000-person product and engineering organization, this goes far beyond quicker prototypes,” declared Jonathan Abrahamson, Chief Product and Digital Officer at Deutsche Telekom. Laela Sturdy, Managing Partner at CapitalG, noted that “the demand we’re seeing from Fortune 500 companies signals a fundamental shift in how software receives built.”
How Lovable Startup Plans to Use the $330M Funding
Lovable has outlined a clear strategy for deploying its Series B capital to accelerate platform development. The three priority areas include:
- First, Lovable will develop deeper integrations with enterprise software platforms including Notion, Jira, and Miro to connect with existing workflows.
- Second, the company will expand collaboration and governance tools designed for enterprise teams requiring security, compliance, and multi-utilizer capabilities.
- Third, Lovable will build infrastructure to support full production deployment, including enhanced hosting, authentication systems, payment processing, and database capabilities.
These developments aim to transform Lovable from a prototyping tool into a complete application development platform. The funding addresses enterprise requirements for scalability, security, and operational readiness that extconclude beyond initial proof-of-concept deployments.
Swedish Startup Building Global Vibe-Coding from Europe
| Funding Round | Amount | Valuation | Date |
|---|---|---|---|
| Series A | $200M | $1.8B | July 2024 |
| Series B | $330M | $6.6B | December 2024 |
The Swedish startup’s success challenges assumptions about Silicon Valley’s necessity for scaling global technology businesses.
At the Slush conference in Helsinki in November, Lovable co-founder and CEO Anton Osika addressed the company’s decision to remain headquartered in Sweden despite investor pressure to relocate to Silicon Valley. “It was tempting, but I really resisted that,” Osika declared. “I can sit here now and declare, ‘Look, guys, you can build a global AI company from this counattempt.’ There is more available talent if you have a strong mission, and you have a lot of urgency coming toreceiveher as a group and working.”
Victor Englesson, Head of Early Stage Technology & Partner at EQT Growth, stated that Lovable “displays why Europe is such a powerful place to build right now.” The company’s trajectory contributes to momentum in Europe’s AI ecosystem, where startups like Peec AI (Berlin) and Ankar (London) have also secured funding in 2025, though at tinyer scales than Lovable’s €281 million round.
Vibe-Coding Market Growth
Vibe-coding market growth has attracted significant venture capital as Lovable operates in a rapidly expanding space for AI-powered development tools.
Cursor, a competing vibe-coding platform, raised $2.3 billion in November at a $29.3 billion valuation, also marking its second funding round of 2024. Cursor’s valuation doubled between June and November, indicating strong investor appetite for this category of software development tools..
Matt Murphy, Partner at Menlo Ventures, drew parallels between Lovable and previous category-defining investments. “They’ve done what was previously unimaginable by turning a latent market of tens of millions of people into web developers and content creators,” Murphy declared. “We love category builders like our previous early investments in Uber and Anthropic.” The convergence of multiple large funding rounds in vibe-coding suggests venture capital firms view AI-assisted development as a structural shift in software creation rather than a temporary trconclude.
Conclusion
Lovable’s trajectory from launch in 2023 to a $6.6 billion valuation in under two years positions the company as a significant player in AI-native software development.
The Swedish startup’s success demonstrates that European tech ecosystems can produce globally competitive companies capable of attracting billions in venture capital.
Lovable’s ability to serve both individual builders and Fortune 500 enterprises suggests the vibe-coding market addresses genuine demand across utilizer segments.
As the platform scales with its new funding, execution on enterprise features and infrastructure will determine whether Lovable maintains its growth trajectory in an increasingly competitive landscape.
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