Key facts
- Lovable is reportedly in talks to raise $300 million.
- The startup's valuation would double to $13.2 billion.
- Menlo Ventures is expected to lead the funding round.
- Lovable reached $500 million in annualized revenue run rate in June.
- The company sells its 'vibe-coding' tool to enterprises like Workday, Asana, and Nvidia.
Lovable, a Swedish startup specializing in 'vibe-coding,' is reportedly in discussions to secure $300 million in funding at a valuation of $13.2 billion. This would represent a doubling of the company's valuation from December, when it was valued at $6.6 billion. Menlo Ventures is anticipated to lead the investment round, according to a report by Sifted.
The company, less than three years old, announced it had reached a $500 million annualized revenue run rate in June. Lovable's 'vibe-coding' tool, which enables users to build software through descriptive language, is utilized by a range of customers including founders, designers, and salespeople for website and e-commerce development. Large enterprises such as Workday, Asana, and Nvidia also use the tool.
'Vibe coding' is described as a highly popular and profitable application of AI. Other notable startups in this space include Replit, valued at $9 billion in March, and Factory, which focuses on AI agent development for enterprises and raised $150 million at a $1.5 billion valuation in April. Last month, Cursor, a developer-focused vibe-coding platform, was acquired by SpaceX for $60 billion.