Stockholm-based AI coding startup Lovable raised $330 million in Series B funding at a $6.6 billion valuation. The round, announced Thursday, was co-led by CapitalG and Menlo Ventures, with participation from Nvidia’s NVentures, Salesforce Ventures, Databricks Ventures, and Khosla Ventures.
Lovable was founded in 2023 by Anton Osika and Fabian Hedin. The company launched its AI-coding platform in late 2024. In July 2024, Lovable completed a $200 million Series A round that valued the company at $1.8 billion. This Series B valuation represents more than a tripling of the company’s worth in five months. Total funding raised in 2025 now exceeds $500 million.
The platform enables users to build software using natural language prompts. As of November 2024, Lovable reported $200 million in annual recurring revenue, a doubling from $100 million in July 2024 over four months. The company serves approximately 320,000 paying customers. Users create over 100,000 new projects daily on the platform.
“Lovable has done something rare: built a product that enterprises and founders both love,” said Laela Sturdy, managing partner at CapitalG, in a statement. “The demand we’re seeing from Fortune 500 companies signals a fundamental shift in how software gets built.”
Major enterprises using Lovable’s platform include Klarna, Uber, Deutsche Telekom, and Zendesk. Deutsche Telekom reduced its development cycles from weeks to days, according to Lovable. Zendesk compressed prototype development from six weeks to three hours.
The funding occurs amid competition in AI-assisted coding. Rival Cursor raised $2.3 billion in November at a $29.3 billion valuation. Cursor received backing from Accel, with participation from Nvidia and Google. The AI-assisted coding market measured $5 billion in 2023 and is projected to reach $26 billion by 2030.
Lovable plans to allocate the new capital to deepen integrations with third-party tools such as Stripe and Notion. The company intends to expand enterprise features and construct infrastructure for production-ready applications.
CEO Anton Osika aims to double the company’s headcount from 120 employees to 240 within the next year. “If you’re a new company and you wish to build everything using Lovable, that should be entirely feasible,” Osika said.
