"Swedish company Lovable has more than tripled its valuation in five months. The AI startup has now raised $330 million at a valuation of $6.6 billion. The company offers a vibe coding tool that allows users to build entire applications using text prompts. Lovable announced Thursday that it has raised $330 million in a Series B funding round led by CapitalG and Menlo Ventures. Khosla Ventures, Salesforce Ventures, and Databricks Ventures also participated, as did other investors."
"Within eight months, the company reached the milestone of $100 million in annual recurring revenue (ARR). Four months later, this doubled to more than $200 million ARR. That's a pace that stands out even in the AI sector. Big names as customers According to Lovable, more than 100,000 new projects are built on the platform every day. In the first year, users created a total of more than 25 million projects."
Lovable secured $330 million in a Series B round led by CapitalG and Menlo Ventures at a $6.6 billion valuation, up from $1.8 billion five months earlier. The platform provides a vibe coding tool that builds entire applications from text prompts. Revenue scaled from $100 million ARR to over $200 million ARR in four months. Users create more than 100,000 new projects daily, with over 25 million projects in year one. New funding will enhance third-party integrations, enterprise features, and infrastructure for databases, payments, and hosting. The company faced a VAT nonpayment issue and confronts strong competition from rivals like Cursor.
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]