Lovable Nears $13.2B Valuation as Vibe-Coding Startup Eyes $300M Round

Quick Facts

• Lovable is in talks to raise $300 million at a $13.2 billion post-money valuation, double its December 2025 figure of $6.6 billion.
• The company surpassed $500 million in annualized revenue with only 146 employees, generating $2.77 million in ARR per employee.
• Menlo Ventures is expected to lead the round, per a report by Sifted.

Lovable, the Swedish AI app-building startup, is in talks to raise $300 million at a $13.2 billion valuation, according to a report from TechCrunch citing Sifted. The figure is on a post-money basis and could change as negotiations continue. Lovable declined to comment.

Menlo Ventures, which announced a $3 billion fund last month, is expected to lead the deal. The firm also co-led Lovable’s $330 million Series B in December 2025, when the company was valued at $6.6 billion.

A Revenue Curve Few Companies Have Matched

Lovable’s growth has been aggressive. The company hit $100 million ARR in July 2025, $200 million in November 2025, $300 million in January 2026, $400 million in February 2026, and crossed $500 million in June 2026. CEO Anton Osika has said the company reached $100 million ARR faster than OpenAI, Cursor, and Wiz.

Osika told Bloomberg Television that Lovable is “pacing five months ahead of projections.” The company says more than 50 million projects have been built on its platform, with one million new projects created each week.

A Lean Headcount Driving Outsized Numbers

Lovable employs just 146 people. That puts its ARR per employee at $2.77 million, already past the $2 million per employee threshold that Gartner predicts will define a new wave of unicorns by 2030.

The company plans to hire hundreds of people globally this year and has opened offices in San Francisco and Boston alongside its Stockholm headquarters.

Enterprise Push and Big-Name Clients

Lovable is not purely a tool for solo builders. The company counts Workday, Asana, and Nvidia among its enterprise clients. Osika stated at Web Summit that more than half of Fortune 500 companies are using Lovable. The company has also pursued deals with Klarna and HubSpot.

Users span founders, designers, and salespeople building websites, e-commerce storefronts, and internal tools such as CRMs and HR platforms. Investors who backed the Series B described the product as one that has “turned a latent market of tens of millions of people into web developers and content creators.”

A Security Incident That Drew Criticism

The company’s growth has not been without problems. Between February 3 and April 20, 2026, a broken object level authorization flaw left thousands of projects’ source code, credentials, and AI chat histories exposed for 48 days.

Lovable’s handling of the incident drew sharp criticism. In a single day, the company posted on X that it “did not suffer a data breach,” called the exposed data “intentional behaviour,” then blamed its own documentation, and then blamed bug bounty partner HackerOne. The company later acknowledged the need to “hold ourselves to a higher standard on security, transparency.”

What This Means for the Market

Lovable’s trajectory is a signal for enterprise software founders watching the no-code and AI-assisted development space. A company with 146 employees is generating half a billion dollars in annual recurring revenue and attracting enterprise contracts from some of the largest software firms in the world.

The pending round would bring Lovable’s total funding to roughly $852.5 million across five rounds. If the valuation holds, the company will have grown from $1.8 billion to $13.2 billion in roughly 18 months.

Read more: Lovable reportedly in talks to double its valuation to $13.2B