The artificial intelligence-powered coding startup Lovable has secured a new funding round, catapulting its valuation to $6.6 billion. Sources close to the deal revealed to CNBC that the round saw participation from prominent U.S. venture capital firm Accel, alongside Khosla Ventures.
This latest valuation represents a significant jump, more than tripling the company’s $1.8 billion valuation from its funding round in July. This marks Lovable’s third funding injection in 2025, underscoring a period of explosive growth that has positioned the Swedish AI firm as one of Europe’s most highly valued startups. Forbes had previously reported in November that the round was expected to value the company at approximately $6 billion.
Accel’s continued investment in Lovable highlights its strategic focus on emerging AI startups. The firm has previously backed notable players in the AI space, including the coding tool startup Cursor and Thinking Machines, founded by former OpenAI executive Mira Murati.
Lovable, founded in 2023, has demonstrated remarkable traction. In November, the company reported an Annual Recurring Revenue (ARR) of $200 million, a substantial increase from achieving $1 million in ARR just under a year prior. The July funding round, which raised $200 million, also saw investments from notable figures and firms such as Creandum, Klarna founder Sebastian Siemiatkowski, ElevenLabs founder Mati Staniszewski, and Synthesia founder Victor Riparbelli.
Lovable is a frontrunner in the burgeoning “vibe coding” sector, an area that has attracted substantial investor attention. In the U.S. market, Anysphere, the creator of the coding tool Cursor, raised $2.3 billion at a $29.3 billion valuation in November. Prior to that, Replit achieved a $3 billion valuation after a $250 million raise in September, and Vercel closed a $300 million round at a $9.3 billion valuation.
Headquartered in Stockholm, Lovable is expanding its global footprint with new offices planned for Boston and San Francisco. The company’s platform leverages advanced AI models from providers like OpenAI and Anthropic, enabling users to create applications and websites through text prompts, effectively democratizing software development by reducing the need for traditional coding expertise. At the time of its ARR announcement in November, Lovable stated that its platform was facilitating the creation of 100,000 projects daily.
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