Stockholm-based software development platform Lovable has closed a $330 million Series B funding round, pushing its valuation to $6.6 billion. The investment represents more than a threefold increase from the company’s $1.8 billion valuation just five months ago.
CapitalG, Alphabet’s independent growth fund, and Menlo Ventures co-led the round. Notable participants included NVentures (Nvidia’s venture arm), Salesforce Ventures, Databricks Ventures, Atlassian Ventures, HubSpot Ventures, and Khosla Ventures.
Explosive Revenue Growth
The two year old company has demonstrated remarkable financial trajectory. Lovable reached $1 million in annual recurring revenue in November 2024. By July 2025, that figure had climbed to $100 million. As of November 2025, the platform generates $200 million in recurring revenue annually.
This growth pattern places Lovable among the fastest-scaling enterprise software companies in recent memory. The platform now processes over 100,000 new projects daily, with more than 25 million projects created since launch.
What Makes Lovable Different
The company pioneered what industry observers call “vibe coding” an approach that enables users to build complete applications through natural language prompts rather than traditional programming syntax. Product managers, designers, and business professionals can describe what they want in plain English, and the platform generates functional code.
Major enterprises have already adopted the technology. Zendesk reports that prototype development time dropped from six weeks to three hours using Lovable’s tools. Deutsche Telekom compressed development cycles from weeks to days. Other customers include Klarna, Uber, and McKinsey.
Strategic Direction
CEO Anton Osika outlined plans to deploy the fresh capital across three priorities: deeper integrations with productivity tools like Notion, Linear, Jira, and Miro; expanded enterprise governance and collaboration features; and infrastructure improvements to support production-ready applications.
“Our mission is to let anyone be a builder,” Osika stated. He envisions a future where organizations construct custom software on demand rather than purchasing generic solutions from major vendors.
The company plans to double its workforce from 120 to 240 employees over the coming year.
Competitive Landscape
The funding arrives amid intense investor interest in code generation tools. Competitor Cursor raised $2.3 billion in November at a $29.3 billion valuation. Industry analysts project the market for such tools will expand from $5 billion in 2023 to $26 billion by 2030.
Osika notably resisted pressure to relocate Lovable’s headquarters to Silicon Valley, arguing that Sweden offers strong talent availability for companies with compelling missions. “I can sit here now and say, ‘Look, guys, you can build a global AI company from this country,'” he remarked at the recent Slush conference in Helsinki.
Investor Perspective
“Lovable has done something rare: built a product that enterprises and founders both love,” said Laela Sturdy, Managing Partner at CapitalG. “The demand we’re seeing from Fortune 500 companies signals a fundamental shift in how software gets built.”
Matt Murphy of Menlo Ventures highlighted that Lovable has effectively converted millions of non-technical users into software creators, transforming a latent market into active customers.
With total 2025 funding now exceeding $500 million, Lovable appears well-positioned to accelerate its expansion across enterprise markets worldwide.
