Lovable, a Stockholm-based artificial intelligence startup, has just raised $330 million in a new funding round, bringing its valuation to $6.6 billion. This rapid growth underscores a major shift in the tech industry: making software development accessible to anyone, regardless of coding experience. The round was led by CapitalG and Menlo Ventures, with participation from Khosla Ventures, Accel, and EQT.
The Rise of “Vibecoding”
Founded in 2023 by Anton Osika and Fabian Hedin, Lovable is capitalizing on the explosion of AI-powered tools that are disrupting traditional coding. The company enables users to build websites and apps without writing a single line of code—a trend some call “vibecoding.” This approach is fueled by the growing popularity of AI assistants like ChatGPT, Cursor, and Cognition, which are already essential tools for professional developers.
“It’s taking this massive market of people that were never developers and turning them into content creators, developers and publishers,” explains Matt Murphy, a partner at Menlo Ventures. The demand is clearly there, as Lovable’s annual recurring revenue has doubled from $100 million in July to $200 million today. The company now serves approximately 320,000 paying customers.
A Rapid Trajectory
The funding comes just months after Lovable secured $200 million at a $1.8 billion valuation, indicating a dramatic acceleration in investor confidence. While currently unprofitable, Lovable operates on a freemium model with paid subscriptions starting at $25/month for individuals and $50/month for businesses.
This rapid growth reflects a broader trend: the increasing power of AI to lower barriers to entry in software creation. It raises questions about the future of traditional coding roles, and how quickly non-technical users will adopt these tools to build and deploy their own applications.
Lovable’s success demonstrates that the future of software may not belong solely to professional developers, but to anyone with an idea and the right AI tools.
