Lovable, the Stockholm-based ‘vibe coding’ startup, is raising at a valuation of around $6 billion, according to four sources familiar with the financing. The sources cautioned that the situation is fluid and numbers could change.
Lovable declined to comment.
The round would more than triple the company’s worth from its $1.8 billion valuation in July, after a $200 million Series A led by Accel. Lovable is one of a new crop of startups enabling a boom in ‘vibe coding’ where programmers, or even amateurs, take suggestions from AI models to not only write lines of code but spin up entire apps or websites.
In June, Lovable became the fastest-growing software startup in history, reaching $100 million in subscription revenue (on an annualized basis) in just eight months since its launch last November, eclipsing other rocketships like Israeli cloud security startup Wiz and San Francisco–based HR platform Deel (which hit the same benchmark in 18 months and just under two years, respectively).
Lovable’s founder Anton Osika earlier this week said it had 8 million active users on its platform, up from 2.3 million users in July.
Investors have doubled, and now tripled down on bets in this space, with coding tool Cursor, which is aimed more at professional programmers, raising $2.3 billion on a $30 billion valuation. The San Francisco-based company was valued at $2.5 billion in January in a $100 million round led by Andreessen Horowitz and Thrive Capital.
The surge in Cursor’s valuation, which has minted its four cofounders as billionaires, comes as its annualized revenue has ballooned to over $1 billion. That makes Cursor the largest company by both revenue and valuation in the vibe coding space but there’s a growing pack of rivals like Lovable, Replit, Bolt and Cognition.
Lovable and its vibe coding rivals all tap into the code-writing power of AI models from companies like Anthropic and OpenAI. But increasingly these startups are facing competition from the companies that power them as this year as both Anthropic and OpenAI launched their own coding tools. Google paid $2.4 billion in July to hire the founders of another vibe coding tool Windsurf after a takeover offer from OpenAI fell apart (and the rest of the company was then acquired by Cognition).
Rashi Shrivastava contributed reporting.
Read the full article here
