Lovable raised $400M in a Series C at a $13.3 billion valuation on August 12, 2026, led by Menlo Ventures and the EQT-managed Scaleup Europe Fund. The valuation doubled since December, but at $500M ARR the round was priced near 26x revenue, down from about 33x.
Read the full story: Lovable raises $400M at $13.3B, doubling in eight months →
Transcript
Lovable just raised four hundred million dollars at a thirteen point three billion dollar valuation. Menlo Ventures led it, with the EQT managed Scaleup Europe Fund. That is double what the Stockholm company was worth in December, eight months ago. But here is the number nobody is printing. December's round priced Lovable at about thirty three times its revenue. This one prices it near twenty six. The valuation doubled, and the price per dollar of revenue actually went down, because revenue grew harder. Two hundred million in annual run rate last November, five hundred million by June. And the money is not going into a smarter code generator. It is going into payments, single sign on, security scanning and audit logs. Lovable is spending four hundred million on the boring half of software.