Lovable in talks to raise $300 million at $13.2 billion valuation

Lovable is in talks to raise $300 million at a $13.2 billion valuation, according to a report by Sifted. The valuation would be double the $6.6 billion the company achieved last December. Menlo Ventures is expected to lead the round.

Revenue and customers The less-than-three-year-old startup reached $500 million in annualized revenue run rate in June. Its users include founders, individual designers, and salespeople building websites and e-commerce storefronts. The company also sells its tool to large enterprises, including Workday, Asana, and Nvidia.

Industry context Vibe coding, which allows users to build software by describing it, is one of the most popular uses for AI. Other startups in the space include Replit, valued at $9 billion in March, and Factory, which raised $150 million at a $1.5 billion valuation in April. Cursor, which offers vibe coding for developers, was acquired by SpaceX for $60 billion last month.