Lovable's annualized revenue passes $600M as vibe-coding pushes into the enterprise

Lovable passes $600 million in annualized revenue

Lovable's annualized revenue has crossed $600 million, co-founder Fabian Hedin announced at the HumanX summit in Amsterdam. According to TechCrunch, the figure is up from roughly $500 million when the company last disclosed it in June, meaning the vibe-coding platform added around $100 million in run-rate terms in about three months.

Hedin said the startup has concentrated on expanding its enterprise business, and claimed that two-thirds of Fortune 500 companies now use the product. Named customers include Microsoft, NVIDIA and Deutsche Telekom.

The pitch: apps and businesses, not code

At the event, Hedin positioned Lovable against developer-focused AI coding tools. Where tools such as Codex or Claude Code generate source code for engineers to work with, Lovable's output is a finished product — and increasingly a functioning business, he argued. To support that, the company handles hosting, deployment and scaling for the applications built on its platform.

The scale of what has been built on top of it is striking: apps created by Lovable users together attract close to a billion visits per month. Hedin noted that this traffic is roughly ten times what Lovable itself receives, suggesting many of these apps have real audiences rather than serving as throwaway prototypes.

Two rounds, eight months, a doubled valuation

Lovable has raised more than $700 million across two funding rounds spaced just eight months apart, TechCrunch reports. In December, the company closed a $300 million round from Menlo Ventures and CapitalG at a valuation of $6.6 billion. Eight months later, in August, it raised another $400 million from Menlo Ventures and the Scaleup Europe Fund, this time at a $13.3 billion valuation — roughly double the earlier figure.

Why it matters

The milestone is one of the clearest signals yet that vibe coding — building software by describing it in plain language — has become a substantial commercial market rather than a passing novelty. A $600 million run rate, with roughly $100 million added in annualized terms over a single quarter, points to paying demand at a scale very few AI application startups have reached.

The enterprise push matters too. If large incumbents are genuinely adopting these tools, it challenges the assumption that prompt-based app builders appeal only to hobbyists and small teams. That said, the claim about two-thirds of the Fortune 500 was made by a co-founder on a conference stage, with no detail offered on how heavily those companies actually use the product.

There are also caveats around the headline number itself. Run-rate revenue extrapolates a recent period into a full-year figure rather than reporting audited annual sales, and every figure here comes from the company rather than public financial filings.

Even with those qualifications, the overall trajectory — fast revenue growth, a valuation that doubled to $13.3 billion in under a year, and nearly a billion monthly visits to user-built apps — positions Lovable not just as a rival to other vibe-coding startups, but as a competitor to the low-code platforms and cloud hosting services businesses have traditionally relied on to ship software without large engineering teams.