Menlo Ventures and the EQT-managed Scaleup Europe Fund co-led the round. Tencent, Balderton Capital and other new investors from Europe, Latin America and Asia also participated.
“This funding lets us move faster on the product, infrastructure, and team needed to make Lovable the best place to build and run a business,” Anton Osika, Lovable’s CEO and co-founder, said in a statement.
Lovable, which helps users build software through natural-language prompts, had raised $330 million at a $6.6 billion valuation in December last year.
Annual recurring revenue has nearly tripled from $200 million, and the company is tracking toward $600 million by the end of August, the startup said.
Since its launch in November 2024, people have created more than 60 million projects, and Lovable-built apps attract more than 900 million visits a month, the startup said.
Companies including Nvidia, Deutsche Telekom and Adidas are building on the platform, according to the startup.
Lovable said it plans to grow to roughly 450 team members this year, hiring most heavily in machine learning, product, infrastructure and security roles.
Existing investors include Accel, Antler, CapitalG and HubSpot Ventures.