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Lovable, a European startup enabling users to build software applications through text prompts, has successfully closed a $400 million Series C funding round. This significant investment propels the company's valuation to $13.3 billion, effectively doubling its worth from the $6.6 billion valuation achieved in its previous funding round in December.

The latest funding round was spearheaded by prominent venture capital firms Menlo Ventures and the Scaleup Europe Fund, with participation from over a dozen other investors. This influx of capital follows Lovable's impressive financial performance, having surpassed $500 million in annualized run rate revenue as of June.

Lovable's platform now hosts an extensive 60 million projects, collectively drawing an impressive 900 million monthly visitors. As the company has scaled its operations, it has strategically invested in developing its proprietary in-house-trained AI model, complementing its offerings with standard frontier model options. Furthermore, Lovable solidified a multi-year partnership with Google Cloud in June, marking a fivefold increase in its cloud usage.

Demonstrating a commitment to fostering the European AI ecosystem, Lovable has also begun investing in other emerging AI startups within the region. Notably, the company has backed Atech, a Danish startup focused on hardware vibe-coding, signaling its broader ambitions to support innovation across the European tech landscape.