Swedish startup Lovable has experienced a significant surge in valuation, more than tripling to $6.6 billion in just five months. The company recently secured $330 million in a Series B funding round led by CapitalG and Menlo Ventures, with participation from Khosla Ventures, Salesforce Ventures, and Databricks Ventures, among others.
Lovable, known for its ‘vibe-coding’ tool, allows users to write code and build applications using text prompts. Since its inception in 2024, the company has achieved notable milestones, reaching $200 million in annual recurring revenue within a year and attracting prominent clients like Klarna, Uber, and Zendesk.
The fresh funding will enable Lovable to enhance integrations with third-party apps, expand enterprise features, and bolster its platform infrastructure for developing comprehensive applications and services. Despite investor pressure to move to Silicon Valley, CEO Anton Osika’s decision to stay rooted in Stockholm has been a key factor in the company’s rapid growth.
Source: TechCrunch
Leave a Reply