Lovable valued at $6.6 billion in funding round: sources

Vibe coding startup Lovable’s latest funding round values the firm at $6.6 billion and includes U.S. VC firm Accel, sources with knowledge of the deal told CNBC.

That figure is more than triple the $1.8 billion valuation the Swedish AI company achieved after closing its most recent funding round in July. It’s Lovable’s third in 2025 and follows a breakneck year of growth that’s seen it become one of Europe’s most valuable startups.

Both sources asked to remain anonymous while discussing private information. Forbes previously reported in November that the round would value the company at “around” $6 billion.

Accel was participating in the round, both sources said, which has not been previously reported. Accel participated in Lovable’s previous round and has emerged as a key backer in the wave of new AI startups. It’s participated in billion-dollar rounds for 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 latest round, one of the sources told CNBC.

Lovable, Accel and Khosla Ventures have been approached for comment by CNBC, but had not responded as this article went live.

Founded in 2023, Lovable reported $200 million in annual recurring revenue (ARR) in November, just under a year after achieving $1 million in ARR for the first time. 

The startup’s July fundraise picked up $200 million. As well as Accel, investors then included Creandum, Klarna founder Sebastian Siemiatkowski, ElevenLabs founder Mati Staniszewski and Synthesia founder Victor Riparbelli.

Lovable is Europe’s leading player in the vibe coding space, which has seen huge investor interest in recent times.

In the U.S., Anysphere, which created coding tool Cursor, raised $2.3 billion at a $29.3 billion valuation in November. In September, Replit hit a $3 billion price tag after picking up $250 million and Vercel closed a $300 million round at a $9.3 billion valuation.

Based in Stockholm, the company is opening offices in Boston and San Francisco.

Lovable’s platform uses AI models from providers like OpenAI and Anthropic to help users build apps and websites using text prompts, without the need to understand coding.

The startup said that 100,000 projects were being built using its platform every day when it announced its latest ARR figures in November.