Lovable, an AI coding platform, raised $400 million in Series C funding at a $13.3 billion valuation, according to the company's announcement. Menlo Ventures and EQT led the round.
The funding doubles Lovable's valuation from $6.6 billion in December 2025, a span of eight months. The company has now raised $525 million across all rounds, according to available records of the funding events.
Lovable builds AI tools that generate and edit code from natural language prompts, targeting developers and non-technical users who want to build software without writing manually. The platform operates in a crowded field that includes GitHub Copilot, owned by Microsoft, and Claude's code-generation capabilities from Anthropic, as well as standalone competitors like Cursor and Replit.
Menlo Ventures and EQT are institutional investors with deep venture and growth-stage portfolios. Menlo has backed companies including Figma and Instacart. EQT manages roughly $115 billion in assets under administration and runs dedicated technology funds. Their joint leadership of this round came without public disclosure of Lovable's revenue model or user retention metrics from either investor.
Series C rounds in AI software have drawn capital at varying valuations. Anthropic closed its last funding at $20 billion in March 2024. xAI, Elon Musk's AI company, raised at $24 billion in May 2024. Mistral AI's Series B in June 2024 valued the company at $6 billion.
Lovable's $13.3 billion valuation represents a 2 times multiple on the $6.6 billion figure from eight months prior. The company competes in a segment where most capital has concentrated in foundation model makers and large language model providers rather than application-layer tools.
The document to watch is Lovable's next announced funding round or financial performance metrics, which would indicate whether the company has sustained user growth and revenue sufficient to justify the valuation step.
