Lovable Secures $330 Million in Series B Capital at a $6.6 Billion Appraisal
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Lovable Secures $330 Million in Series B Capital.
Lovable Secures $330 Million in Series B Capital, According to the firm, over 25 million projects were developed in its first year, and over 100,000 projects are created on its platform every day.
Lovable, a vibe coding platform, announced that it has raised $330 million in a Series B fundraising round at a $6.6 billion value. Both new and existing investors participated in the round, which was led by CapitalG and Menlo Ventures’ Anthology fund.
NVentures, Salesforce Ventures, Databricks Ventures, T.Capital, Atlassian Ventures, HubSpot Ventures, Khosla Ventures, DST Global, EQT Growth, Kinship Ventures, and returning investors including Accel and Creandum contributed to the funding round.
According to Lovable, the funds will be utilized to improve infrastructure that facilitates the transition of products from prototype to production, increase team collaboration and governance capabilities, and deepen interfaces with business software tools.
According to Laela Sturdy, general partner at CapitalG, “Lovable has done something rare: built a product that enterprises and founders both love.” According to her, “the demand we’re seeing from Fortune 500 companies signals a fundamental shift in how software is built.”
According to the firm, over 25 million projects were developed in its first year, and over 100,000 projects are created on its platform every day. In the last six months, Lovable-built websites and apps have had over 500 million visits, it said.
According to Lovable, companies like Deutsche Telekom, Klarna, and Zendesk are using its platform to create internal tools and prototypes. “What once took six weeks from idea to working prototype – now takes just three hours,” stated Jorge Luthe, senior director of product at Zendesk.
According to the company, numerous startups have achieved revenue milestones within months of debut, and entrepreneurs are also using the platform to create commercial products.
According to Lovable, as more non-technical people create and distribute software, the most recent investment will facilitate wider adoption across teams and organizations.
Also read: Weeks After $100M Funding, Indian Startup MoEngage Secures Fresh $180M Investment.
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