Lovable in Negotiations to Boost Valuation to $13.2 Billion

Lovable, a Swedish startup focused on vibe coding, is reportedly seeking to raise $300 million, which could double its valuation to $13.2 billion. This new figure comes after the company reached a valuation of $6.6 billion in December of last year. Menlo Ventures is expected to lead the funding round, bolstered by their recent announcement of a new $3 billion fund.

In June, Lovable attained an impressive annualized revenue run rate of $500 million, demonstrating significant growth in a short span of time. The startup’s platform caters to a diverse user base, which includes founders, designers, and sales professionals creating websites and e-commerce sites, as well as large enterprises such as Workday, Asana, and Nvidia that utilize its vibe-coding tool.

Vibe coding represents a growing trend in leveraging AI, allowing users to build software through simple descriptions rather than complex coding. Other notable players in the vibe coding space include Replit, valued at $9 billion, and Factory, which raised $150 million at a $1.5 billion valuation. Additionally, the startup Cursor was recently acquired by SpaceX for $60 billion.

For further details, check out the original report from Sifted.

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