The Series C is led by Menlo Ventures and co-led by the EQT-managed Scaleup Europe Fund. In December the valuation still stood at 6.6 billion dollars.
Lovable has closed a Series C round of 400 million dollars at a valuation of 13.3 billion dollars. It is led by Menlo Ventures and co-led by the Scaleup Europe Fund managed by EQT. Participants include Balderton Capital, Tencent, Accel, CapitalG, HubSpot Ventures and Salesforce Ventures.
The valuation has roughly doubled since December, when it stood at 6.6 billion dollars. The company cites an expected revenue run rate of around 600 million dollars by the end of August.
Lovable belongs to the category of tools that generate applications from text descriptions. For companies the valuation matters less than the consequence: business units can build applications without involving IT. That accelerates small projects while creating systems that nobody maintains, reviews or documents.
What this means for decision-makers
- Establish whether your business units are already building applications with such tools – usually the answer is yes.
- Define which data may be processed in such applications and who operates them once built.
- Keep a simple register of these applications; without one you will lack evidence in AI Act reviews.
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