Beloved co-founders Anton Osika and Fabian Hedin. credit:
Vibe coding startup Lovable’s latest round of funding values the company at $6.6 billion and includes U.S. venture capital firm Accel, sources familiar with the deal told CNBC.
This figure is more than triple the $1.8 billion valuation the Swedish AI company achieved after completing its latest funding round in July. This is Lovable’s third company of 2025, following a year of incredible growth that has seen the company become one of Europe’s most valuable startups.
Both sources asked to remain anonymous when discussing personal information. Forbes previously reported in November that the round would value the company at “approximately” $6 billion.
Both sources said Axel was participating in this round, which had not previously been reported. Accel participated in Lovable’s last round and has emerged as a major backer of the new wave of AI startups. The company is participating in multibillion-dollar rounds from vibe-coding startup Cursor and former OpenAI executive Mira Murati’s AI company Thinking Machines.
U.S. investor Khosla Ventures is also participating in the round, one of the people told CNBC.
Lovable, Accel, and Khosla Ventures did not respond to requests for comment from CNBC at the time of publication.
Founded in 2023, Lovable reported annual recurring revenue (ARR) of $200 million in November, a little less than a year after hitting $1 million ARR for the first time.
The startup raised $200 million in funding in July. In addition to Axel, investors at the time included Creandum, Klarna founder Sebastian Siemiatkowski, Celebrities founder Mati Staniszewski, and Synthesia founder Victor Riparbelli.
Lovable is a leading European company in the vibecoding space, which has recently attracted significant investor interest.
In the US, Anysphere, which created the coding tool Cursor, raised $2.3 billion in November at a valuation of $29.3 billion. In September, Replit reached a $3 billion price tag after raising $250 million, and Vercel closed a $300 million round at a valuation of $9.3 billion.
The company is based in Stockholm and also has offices in Boston and San Francisco.
Lovable’s platform uses AI models from providers like OpenAI and Anthropic to enable users to build apps and websites using text prompts without having to understand coding.
When the company announced its latest ARR numbers in November, it said 100,000 projects were being built every day using its platform.
