Lovable raises $400M at a $13.3B valuation

In short: Lovable said it raised $400 million in new funding, valuing the company at $13.3 billion.

What happened

Lovable, a European startup that helps people build software with AI (like describing what you want and letting the tool generate the code), confirmed it has raised $400 million in a Series C funding round.

Lovable said the round was led by Menlo Ventures and the Scaleup Europe Fund, with more than a dozen other investors joining. A “Series C” is a later funding round, which usually happens after a company has already grown and wants more money to expand.

The company said the new round values Lovable at $13.3 billion. That is the price investors are putting on the business right now, similar to an estimate of what the whole company is worth if it were sold.

Lovable told TechCrunch that it hit $500 million in annualized run rate revenue in June. “Annualized run rate” is a simple way to estimate a full year, by taking a recent month or period and projecting it forward (like guessing your yearly pay based on one month’s paycheck).

Lovable also said it now hosts 60 million projects that attract 900 million monthly visitors. It says it offers its own AI model (an AI system trained to generate answers) and also lets customers use other major AI models. In June, it signed a multiyear deal with Google Cloud, which a source told TechCrunch would increase its usage by about five times.

Why it matters

Big funding rounds like this can shape which AI tools grow fastest, and which ones can afford more computing power and bigger partnerships. For regular people, that can mean more AI tools aimed at building websites and apps, and more competition over price, features, and how user data is handled.

Source: TechCrunch AI