Lovable triples its valuation in five months as AI coding demand surges

Five months is a short time in venture capital. It's even shorter to more than triple a valuation. Yet that's exactly what Stockholm-based AI startup Lovable has done. The company has raised $330 million in a Series B round, pushing its valuation to $6.6 billion from $1.8 billion following a $200 million raise earlier this year.

The pace matters. Not just because of the money, but because of what investors are betting on. Lovable isn't selling a faster code editor or a smarter autocomplete. Its platform lets users build applications by describing what they want in natural language; this approach is often described as 'vibe coding'.

That shift is already visible in usage. Lovable says more than 100,000 new projects are created on its platform every day, with adoption spanning solo creators and enterprise teams alike. Revenue growth has followed. The company crossed $100 million in annual recurring revenue and then doubled that figure within months.

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For investors including CapitalG, Menlo Ventures’ Anthology Fund, NVIDIA-backed NVentures, Salesforce Ventures, and Databricks Ventures, the signal is clear. Software creation is no longer limited to people who write code for a living.

This changes the shape of the developer market. For experienced engineers, platforms like Lovable don't replace deep technical work. Instead, they compress the distance between idea and prototype. Internal tools, dashboards, and one-off products can be built faster, often without pulling senior engineers away from core systems.

For non-technical users, the impact is larger. Vibe coding lowers the barrier to building real software, not just mockups. Product managers, designers, founders, and operators can now ship working applications. In emerging markets such as Brazil, now one of Lovable’s largest markets, this means bypassing long engineering queues entirely.

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That is why Lovable’s growth is being read as more than hype. It suggests demand for software creation is expanding faster than the supply of developers, and AI tools are filling that gap.

The company also plans to use its new funding to deepen its enterprise features, strengthen its infrastructure, and support more complex applications. Chief executive Anton Osika has said Lovable will remain based in Sweden, pointing to the country’s engineering culture and operating environment as long-term advantages.

Lovable’s rise comes amid increased funding activity in AI coding tools. Developer-focused platforms have also attracted massive rounds, but Lovable has taken a different path. Rather than targeting engineers first, it's positioning itself for non-technical users who want to build functional software without writing code, in an industry that is still settling into its next phase.

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TechloyEmmanuel Oyedeji