Lovable's annualized revenue surpasses $600M as AI coding gains enterprise momentum

At the HumanX summit in Amsterdam on September 24, 2026, Lovable co-founder Fabian Hedin said the company's annualized recurring revenue has surpassed $600 million, up from around $500 million in June.

Hedin said Lovable has focused on expanding its enterprise business, claiming that two-thirds of Fortune 500 companies now use its product, including Microsoft, NVIDIA, and Deutsche Telekom. Apps created by users on the platform attract nearly one billion views per month. He contrasted Lovable with coding tools like Codex and Claude Code, noting that Lovable outputs a complete product rather than just code, and handles hosting, deployment, and scaling. The apps built on Lovable receive close to a billion visits monthly, an order of magnitude more than Lovable itself.

The startup has raised more than $700 million across two funding rounds within eight months: $300 million in December 2025 from Menlo Ventures and CapitalG at a $6.6 billion valuation, and $400 million in August 2026 from Menlo Ventures and Scaleup Europe Fund at a $13.3 billion valuation.