# Lovable revenue, valuation & funding

Markdown copy of https://realalpha.app/companies/lovable/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

Lovable was valued at $13.3B in its Series C in August 2026. TechCrunch reported in September 2026 that its annualized revenue had crossed $600M. It's a private company with no stock ticker, and no IPO plan has been reported.

Checked Nov 7, 2026

## At a glance

- Valuation: $13.3B at its Series C, in August 2026.
- Revenue: annualized revenue above $600M in September 2026, as reported. It is a run rate. Lovable publishes no audited results.
- Status: private. No stock ticker. No IPO plan reported.
- Founded: 2023 in Stockholm, by Anton Osika and Fabian Hedin. It grew out of the open-source GPT Engineer.
- CEO: [Anton Osika](https://realalpha.app/builders/anton-osika/).
- Investors: Menlo Ventures, Accel, CapitalG, EQT's Scaleup Europe Fund, DST Global and Salesforce Ventures, among others.
- Products: the Lovable app builder and Lovable Cloud, a built-in backend for hosting, databases, storage and authentication.
- Employees: 146 in March 2026. It plans to grow to roughly 450 team members in 2026.
- On Real Alpha: 4 moments of its people talking, from 1 interviews

## Is Lovable public? Can you buy its stock?

No. Lovable is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol.

No IPO plan or filing has been reported. Its executives have not given a date for going public.

Its shares are held by its founders, staff and investors. Menlo Ventures led its latest round in [August 2026](https://lovable.dev/blog/series-c), co-led by the Scaleup Europe Fund, managed by EQT. This page reports facts and gives no investment advice.

## Valuation, round by round

Its valuation went from $1.8B in July 2025 to $13.3B in August 2026, more than seven times in about a year.

- Aug 2026 · $13.3B · $400M · Menlo Ventures, co-led by the Scaleup Europe Fund (managed by EQT) · [Lovable's blog](https://lovable.dev/blog/series-c)
- Dec 2025 · $6.6B · $330M · CapitalG and Menlo Ventures' Anthology fund · [Lovable's blog](https://lovable.dev/blog/series-b)
- Jul 2025 · $1.8B · $200M · Accel · [Lovable's blog](https://lovable.dev/blog/200m-series-a-fundraise)

Smaller rounds from before the Series A aren't listed. Sacra estimates Lovable has raised about $950M in all.

## Revenue

Lovable doesn't publish results. Its annualized revenue went from $100M in July 2025 to more than $600M by September 2026, as reported.

- Sep 2026 · $600M · Reported · [TechCrunch](https://techcrunch.com/2026/09/24/lovables-annualized-revenue-crosses-600m-as-vibe-coding-takes-off/)
- Jun 2026 · $500M · Reported · [TechCrunch](https://techcrunch.com/2026/08/12/lovable-confirms-new-13-3b-valuation-raises-another-400m/)
- Feb 2026 · $400M · Reported · [TechCrunch](https://techcrunch.com/2026/03/11/lovable-says-it-added-100m-in-revenue-last-month-alone-with-just-146-employees/)
- Nov 2025 · $200M · Estimate · [Sacra](https://sacra.com/c/lovable/)
- Jul 2025 · $100M · Estimate · [Sacra](https://sacra.com/c/lovable/)

A run rate is a month's revenue times twelve. It isn't audited revenue, and the 2025 figures come from Sacra.

## How Lovable makes money

Lovable sells workspace subscriptions and usage-based credits, according to [Sacra](https://sacra.com/c/lovable/). Sacra's estimate puts Pro at $25 a month and Business at $50 a month, each with 100 monthly credits.

Anton Osika said in September 2026 that hosting is included and the default paid plan is $25 a month.

Sacra estimated its gross margin at 36% in May 2025, with a target of 65% in the second half of 2026. Gross margin is not profit, and Lovable publishes no results.

- **Microsoft.** Since September 2026, apps built on Lovable can run inside a company's Microsoft tenant, with Entra sign-in and IT controls. The runtime is in public preview. · [Lovable's blog](https://lovable.dev/blog/microsoft-partnership)
- **Google Cloud.** Sacra reports a multi-year partnership announced at Google Cloud Summit Nordics '26 in Stockholm. · [Sacra](https://sacra.com/c/lovable/)

From Lovable's interviews

- [Most everyday software fits Lovable, but global scale does not](https://realalpha.app/s/most-everyday-software-fits-lovable-but-global-scale-does/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026

## Products

- **Lovable** (launched November 2024). People describe an app in plain English and the AI builds it. It relaunched the GPT Engineer product. · [Lovable's blog](https://lovable.dev/blog/series-c)
- **Lovable Cloud** (September 2025). A built-in backend for hosting, databases, storage and authentication. · [Sacra](https://sacra.com/c/lovable/)
- **Molnett.** Lovable acquired the cloud provider in November 2025. · [Lovable's blog](https://lovable.dev/blog/lovable-welcomes-molnett)
- **Sutro.** Lovable acquired it in September 2026. Founder Tomas Halgas and three engineers joined to make software easier to understand for the people building it. · [Lovable's blog](https://lovable.dev/blog/lovable-acquires-sutro-to-make-software-easier-to-explain-and-easier-to-trust)

## Users and usage

Lovable said in [September 2026](https://lovable.dev/blog/microsoft-partnership) that more than 70 million projects had been created with it.

In August it had put the count above 60 million. It said apps built on Lovable drew over 900 million visits a month.

It names Adidas, NVIDIA and Deutsche Telekom as companies whose teams build software for critical workflows with it ([Lovable](https://lovable.dev/blog/series-c)).

From Lovable's interviews

- [Turn a simple product into a business with service and sales](https://realalpha.app/s/turn-a-simple-product-into-a-business-with-service-and-sales/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026
- [Break a big problem into parts you can test](https://realalpha.app/s/break-a-big-problem-into-parts-you-can-test/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026
- [Find the bottleneck before you abandon an idea](https://realalpha.app/s/find-the-bottleneck-before-you-abandon-an-idea/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026

## Leadership

Lovable had 146 employees in March 2026, [TechCrunch](https://techcrunch.com/2026/03/11/lovable-says-it-added-100m-in-revenue-last-month-alone-with-just-146-employees/) reported. It plans to grow to roughly 450 team members in 2026.

Most hiring is in machine learning, product, infrastructure and security. Its center of gravity stays in Stockholm, with expansion in London, Boston, San Francisco and New York.

- **[Anton Osika](https://realalpha.app/builders/anton-osika/),** co-founder and CEO. He created the open-source GPT Engineer before founding Lovable. · [Lovable's blog](https://lovable.dev/blog/lovable-welcomes-molnett)
- **[Fabian Hedin](https://realalpha.app/builders/fabian-hedin/),** co-founder and CTO. · [Lovable's blog](https://lovable.dev/blog/lovable-welcomes-molnett)
- **Tomas Halgas,** founder of Sutro. He leads technical evangelism since Lovable acquired Sutro in September 2026. · [Lovable's blog](https://lovable.dev/blog/lovable-acquires-sutro-to-make-software-easier-to-explain-and-easier-to-trust)

## Who owns Lovable?

Its founders, staff and investors. As a private company it doesn't publish who holds what. [Sacra](https://sacra.com/c/lovable/) estimates it has raised about $950M in all.

- **Menlo Ventures** led the $400M Series C in August 2026. The Scaleup Europe Fund, managed by EQT, co-led it. · [Lovable's blog](https://lovable.dev/blog/series-c)
- **CapitalG and Menlo Ventures' Anthology fund** led the $330M Series B in December 2025. · [Lovable's blog](https://lovable.dev/blog/series-b)
- **Accel** led the $200M Series A in July 2025. 20VC, byFounders, Creandum, Hummingbird and Visionaries Club took part. · [Lovable's blog](https://lovable.dev/blog/200m-series-a-fundraise)
- **NVentures, Databricks Ventures, T.Capital, Atlassian Ventures and HubSpot Ventures** invested in the Series B, alongside Khosla Ventures and DST Global. NVentures is NVIDIA's venture arm and T.Capital is Deutsche Telekom's. · [Lovable's blog](https://lovable.dev/blog/series-b)
- **Balderton Capital, Tencent, Carmignac and Kaszek Ventures** were among the new investors in the Series C. · [Lovable's blog](https://lovable.dev/blog/series-c)

## Competitors

[Sacra](https://sacra.com/c/lovable/) names Replit and Bolt as direct competitors. Each lets people describe an app, refine it in conversation and publish it.

- **[Replit](https://realalpha.app/companies/replit/),** a direct competitor, per Sacra. · [Sacra](https://sacra.com/c/lovable/)
- **[Bolt](https://realalpha.app/companies/bolt/),** a direct competitor, per Sacra. · [Sacra](https://sacra.com/c/lovable/)
- **Base44,** owned by Wix, with more focus on websites and simpler business tools. · [Sacra](https://sacra.com/c/lovable/)

## Timeline and latest news

- Sep 28, 2026 · Announced a Microsoft partnership so apps built on Lovable run inside a company's Microsoft tenant. · [Lovable's blog](https://lovable.dev/blog/microsoft-partnership)
- Sep 24, 2026 · TechCrunch reported its annualized revenue had crossed $600M. · [TechCrunch](https://techcrunch.com/2026/09/24/lovables-annualized-revenue-crosses-600m-as-vibe-coding-takes-off/)
- Sep 18, 2026 · Acquired Sutro. Founder Tomas Halgas and three engineers joined. · [Lovable's blog](https://lovable.dev/blog/lovable-acquires-sutro-to-make-software-easier-to-explain-and-easier-to-trust)
- Aug 12, 2026 · Raised $400M in a Series C at a $13.3B valuation, led by Menlo Ventures. · [Lovable's blog](https://lovable.dev/blog/series-c)
- Jun 2026 · Hit $500M in annualized run rate revenue, it told TechCrunch. · [TechCrunch](https://techcrunch.com/2026/08/12/lovable-confirms-new-13-3b-valuation-raises-another-400m/)
- Feb 2026 · Crossed $400M in annual recurring revenue. · [TechCrunch](https://techcrunch.com/2026/03/11/lovable-says-it-added-100m-in-revenue-last-month-alone-with-just-146-employees/)
- Dec 18, 2025 · Raised $330M in a Series B at a $6.6B valuation, led by CapitalG and Menlo Ventures' Anthology fund. · [Lovable's blog](https://lovable.dev/blog/series-b)
- Nov 25, 2025 · Acquired the cloud provider Molnett. · [Lovable's blog](https://lovable.dev/blog/lovable-welcomes-molnett)
- Sep 2025 · Launched Lovable Cloud, a built-in backend for hosting, databases, storage and authentication. · [Sacra](https://sacra.com/c/lovable/)
- Jul 17, 2025 · Raised $200M in a Series A at a $1.8B valuation, led by Accel. · [Lovable's blog](https://lovable.dev/blog/200m-series-a-fundraise)
- Apr 15, 2025 · Figma sent a cease-and-desist letter over the term "Dev Mode". · [TechCrunch](https://techcrunch.com/2025/04/15/figma-sent-a-cease-and-desist-letter-to-lovable-over-the-term-dev-mode/)
- Nov 2024 · Launched Lovable as a relaunch of the GPT Engineer product. · [Lovable's blog](https://lovable.dev/blog/series-c)

## Legal matters

Lovable has faced a trademark dispute and a security flaw in sites built with it. No outcome has been reported for the Figma letter.

- **Figma** sent a cease-and-desist letter over the term "Dev Mode" in April 2025, Figma confirmed to TechCrunch. No resolution has been reported. · [TechCrunch](https://techcrunch.com/2025/04/15/figma-sent-a-cease-and-desist-letter-to-lovable-over-the-term-dev-mode/)
- **Security.** In March 2025 a flaw was found in sites built with Lovable. Their Supabase databases lacked correct access controls and exposed contents. Lovable began checking sites for access controls, though the scan didn't verify they were correct. · [Wikipedia](https://en.wikipedia.org/wiki/Lovable_(company))

## In their own words, and what followed

- [Turn a simple product into a business with service and sales](https://realalpha.app/s/turn-a-simple-product-into-a-business-with-service-and-sales/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026
  > “combining those new discoveries into a service or a solution that hasn't been built before”
  Reported after · Two days later, TechCrunch reported Lovable's annualized revenue had crossed $600M. · [TechCrunch](https://techcrunch.com/2026/09/24/lovables-annualized-revenue-crosses-600m-as-vibe-coding-takes-off/)

- [Most everyday software fits Lovable, but global scale does not](https://realalpha.app/s/most-everyday-software-fits-lovable-but-global-scale-does/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026
  > “if you want to upgrade the default is 25 dollars per month”
  Reported after · On September 28, Lovable announced that apps built on it can run inside a company's Microsoft tenant, with Entra sign-in and IT controls. · [Lovable's blog](https://lovable.dev/blog/microsoft-partnership)

- [Break a big problem into parts you can test](https://realalpha.app/s/break-a-big-problem-into-parts-you-can-test/) · Anton Osika · Silicon Valley Girl · Sep 22, 2026
  > “how can I break this down into pieces that I can test”
  Reported after · Six days later, Lovable said more than 70 million projects had been created with it. · [Lovable's blog](https://lovable.dev/blog/microsoft-partnership)

## What others say about Lovable

- [Supabase moved from dashboards to code as agents arrived](https://realalpha.app/s/supabase-moved-from-dashboards-to-code-as-agents-arrived/) · Paul Copplestone · Lightcone · Oct 30, 2026
  > “for 2024 when the likes of bolt and lovable and all of these people started building on top of us”
- [Modal’s sandbox product grew from a small experiment to a third of revenue](https://realalpha.app/s/modals-sandbox-product-grew-from-a-small-experiment-to-a/) · Erik Bernhardsson · Latent Space · Oct 22, 2026
  > “you know, companies like Lovable and other ones.”
- [North lets staff build automations without creating a new product](https://realalpha.app/s/north-lets-staff-build-automations-without-creating-a-new/) · Aidan Gomez · Upstarts · Apr 16, 2026
  > “a Bolt or a Lovable or one of these tools internally?”
- [Agents automate code but still face business decisions](https://realalpha.app/s/agents-automate-code-but-still-face-business-decisions/) · Han Wang · MTS · Oct 16, 2026
  > “a good example is like lovable”

## Questions people ask

### Is Lovable a public company? Can I buy Lovable stock?

No. Lovable is private and has no ticker, so its shares aren't sold on any exchange.

### When will Lovable IPO?

No IPO plan or filing has been reported. Its latest funding was a private Series C in August 2026.

### Who owns Lovable?

Its founders, staff and investors, including Menlo Ventures, Accel, CapitalG, EQT's Scaleup Europe Fund, DST Global and Salesforce Ventures. Stakes haven't been disclosed.

### Who is the CEO of Lovable?

[Anton Osika](https://realalpha.app/builders/anton-osika/), who co-founded it in 2023 after creating the open-source GPT Engineer.

### Who founded Lovable?

Anton Osika and Fabian Hedin, in Stockholm in 2023.

### How much is Lovable worth?

$13.3B at its Series C in August 2026, when it raised $400M ([Lovable](https://lovable.dev/blog/series-c)).

### How much revenue does Lovable make?

Its annualized revenue crossed $600M in September 2026, [TechCrunch](https://techcrunch.com/2026/09/24/lovables-annualized-revenue-crosses-600m-as-vibe-coding-takes-off/) reported. That is a run rate. Lovable publishes no audited results.

### Is Lovable profitable?

It doesn't publish results. [Sacra](https://sacra.com/c/lovable/) estimated its gross margin at 36% in May 2025, with a 65% target for late 2026.

### How does Lovable make money?

Workspace subscriptions and usage-based credits. Pro starts at $25 a month and Business at $50 a month, per Sacra.

### How many people use Lovable?

It hasn't confirmed a user count. Lovable said in [September 2026](https://lovable.dev/blog/microsoft-partnership) that more than 70 million projects had been created with it.

## Every moment from Lovable's people

### $13B Lovable Co-Founder: Build a Profitable AI Product From Scratch in 30 Minutes
Silicon Valley Girl · Sep 22, 2026

- [Turn a simple product into a business with service and sales](https://realalpha.app/s/turn-a-simple-product-into-a-business-with-service-and-sales/) · 5 min
- [Break a big problem into parts you can test](https://realalpha.app/s/break-a-big-problem-into-parts-you-can-test/) · 3 min
- [Find the bottleneck before you abandon an idea](https://realalpha.app/s/find-the-bottleneck-before-you-abandon-an-idea/) · 3 min
- [Most everyday software fits Lovable, but global scale does not](https://realalpha.app/s/most-everyday-software-fits-lovable-but-global-scale-does/) · 4 min

## People on Real Alpha

- [Anton Osika](https://realalpha.app/builders/anton-osika/), Co-founder & CEO, Lovable
- [Fabian Hedin](https://realalpha.app/builders/fabian-hedin/), Co-founder & CTO, Lovable

## How this page is sourced

Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it.