Lovable raises $400M at a $13.3B valuation - $500M ARR with 146 people

Lovable has raised a $400M Series C at a $13.3B valuation, led by Menlo Ventures and the Scaleup Europe Fund with more than a dozen other investors, the company confirmed on 12 August. That doubles the $6.6B the Stockholm company was worth at its $330M Series B in December 2025 - eight months ago.

The round

The money follows the revenue. Lovable reported an annualized run rate of $500M as of June 2026, up from roughly $200M a year earlier and from zero in November 2024. The platform now hosts 60 million projects and sees around 900 million monthly visitors across the apps built on it. The company recently signed a multi-year Google Cloud deal for a fivefold increase in usage, is training an in-house model, and has started investing in other European startups.

The ratio

The figure founders should copy into their notes is the head count: 146 employees. That is roughly $3.4M of annualized revenue per person, a ratio that did not exist in application software before the vibe-coding wave. It is the same economics Lovable sells to its users - one person, a prompt, a shippable product - applied to the company itself.

The European angle

Lovable is now the most valuable AI application company in Europe and the loudest counter-example to the idea that the vibe economy is a San Francisco phenomenon. The Scaleup Europe Fund co-leading the round is a signal in itself: public-backed European capital is chasing the same asset the Valley is.

What it signals

The prompt-to-app category has matured from "fun demo" to "durable business" in under two years, and the valuations now assume it. For the solo founder the takeaway is not the round - it is that the tool you build on is compounding faster than the incumbents it replaces, and that the people who learned it first are the ones shipping.