tech
Vibe coding startup Lovable's latest funding round values it at $6.6 billion, sources say
Accel is participating in the round, the sources said, adding it would more than triple the valuation it achieved with its previous round in July.
TL;DR
- Lovable's latest funding round values the Swedish AI startup at $6.6 billion.
- This valuation more than triples the company's previous valuation of $1.8 billion from July.
- U.S. VC firm Accel and Khosla Ventures are participating in the new funding round.
- Lovable reported $200 million in annual recurring revenue (ARR) in November, a rapid increase from $1 million ARR in under a year.
- The platform uses AI models to allow users to build apps and websites using text prompts without coding knowledge.
- Approximately 100,000 projects are built daily on Lovable's platform.
- The company is opening offices in Boston and San Francisco.
- Lovable is described as Europe's leading player in the 'vibe coding' space.