Vibe-coding startup Lovable raises $330M at a $6.6B valuation

Swedish vibe-coding startup Lovable has more than tripled its valuation in just five months.

Stockholm-based Lovable said on Thursday that it did has raised $330 million in a Series B funding round which was led by CapitalG and Menlo Ventures, at a valuation of $6.6 billion. Khosla Ventures, Salesforce Ventures and Databricks Ventures also participated, as did other investors.

This raise comes just a few months after Lovable a $200 million Series A round that valued the company at $1.8 billion in July.

Lovable is one of the fastest to capitalize on the AI ​​boom, building a ‘vibe-coding’ tool that lets people use text prompts to write code and build complete apps. The company was launched in 2024 and has grown rapidly, reaching the touted a $100 million ARR milestone within eight months, and just four months later, that doubled to surpass $200 million in annual recurring revenue.

The company counts big software names like Klarna, Uber and Zendesk as customers and claims that more than 100,000 new projects are built on its platform every day and that more than 25 million projects were created in the first year.

Lovable said it would use the new funding to build deeper integrations with third-party apps, expand features for business use, and expand the platform with the infrastructure needed — such as databases, payments and hosting — to build full-fledged applications and services.

The affable co-founder and CEO Anton Osika said on stage at this year’s Slush conference in Helsinki, Finland that he credits the company’s ability to scale to his decision to ignore calls from investors to move the company to Silicon Valley.

“It was tempting, but I really resisted that,” Osika said on stage at the November conference. “I [can] sit here now and say, ‘Look guys, you can build a global AI company from this country.’ There is more talent available when you have a strong mission and there is a lot of urgency to come together and work as a group.”

In November, the company was sued for failing to pay VAT, a tax that applies to most goods and services in the European Union (EU). Osika confirmed that this was true in a LinkedIn messagesaying that the company would remedy the situation, and closing comments saying that these types of taxes are the reason the EU is not a good home for fast-growing startups.

Vibe coding remains a popular investment area for venture capital firms. Cursor, another vibration-encoded sweetheart, lifted $2.3 billion in November at a valuation of $29.3 billion. Like Lovable, this was also the the company’s second round of financing of the year, with appreciation doubling between June and November.

TechCrunch reached out to Lovable for additional information.