source: techcrunch ai: lovable reportedly in talks to double its valuation to $13.2b
level: business
lovable, a swedish startup that lets users build software by describing it, is in talks to raise $300 million at a $13.2 billion valuation, according to sifted. that is double the $6.6 billion valuation it reached last december. menlo ventures, which recently announced a $3 billion fund, is expected to lead the round. the company, founded less than three years ago, hit a $500 million annualized revenue run rate in june.
the startup's customers range from individual founders and designers to large enterprises like workday, asana, and nvidia. they use lovable's tool to build websites and e-commerce storefronts. vibe coding, where users simply describe what they want to build, has become a major ai use case. other players in the space include replit, valued at $9 billion in march, and factory, which raised $150 million at a $1.5 billion valuation in april. cursor, a vibe-coding tool for developers, was acquired by spacex for $60 billion last month.
the reported funding round highlights the rapid growth and investor interest in ai-powered development tools. lovable's ability to attract both individual creators and large companies shows the broad appeal of simplifying software creation. if the deal closes, it would mark another milestone in the fast-moving vibe-coding market.
why it matters: the deal signals strong investor confidence in ai tools that automate software development, potentially reshaping how businesses and individuals build applications.
source: techcrunch ai: lovable reportedly in talks to double its valuation to $13.2b