Lovable announced on August 12, 2026 that it had raised 400 million dollars in a Series C round at a 13.3 billion dollar valuation. Menlo Ventures led, with the Scaleup Europe Fund managed by EQT as co-lead. New investors included Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab and Regent. Returning investors were Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures. The company said it plans to grow to roughly 450 team members by year end.
The usage figures Lovable disclosed describe a consumer-scale product rather than a developer tool. More than 60 million projects have been created on the platform since its November 2024 launch, and apps built with Lovable receive around 900 million monthly visits. Employees at nearly two-thirds of the Fortune 500 use it. Lovable also says nearly 8 in 10 of its builders are constructing monetizable businesses or side projects, and more than a third of those builders are already earning revenue.
The named customer examples point at where the revenue comes from. Brazilian education business Viver de IA serves more than 1,200 clients and projects R$100 million of revenue this year. UK company WNTD closed a 3 million pound funding round. Nursa has more than 200 employees using Lovable, rebuilt its platform 12 times faster and is retiring 10 SaaS systems in the process. AVARA operates in more than 100 countries. The Nursa example is the one with the sharpest implication: an AI app builder displacing ten existing SaaS subscriptions inside a single customer.
The stated use of proceeds is a shift in product scope from building applications to running businesses on them, focused on monetization tools, enterprise security standards and deeper integrations with third-party business software. That is a move up-market from prototyping into systems of record, and it puts Lovable in direct competition with the horizontal SaaS vendors its customers are cancelling. For an enterprise technology leader, the number to sit with is not the valuation but the two-thirds of the Fortune 500 figure: business users are already building production software outside the sanctioned toolchain, and the vendor now has 400 million dollars to make that easier and more permanent.