AI app-building company Lovable has passed $600 million in annual run-rate revenue, co-founder Fabian Hedin said at the HumanX summit in Amsterdam. The privately held startup had reported a run rate of about $500 million in June, implying another $100 million of annualized revenue in roughly three months.
Annual run-rate revenue extrapolates current sales and is not the same as audited revenue collected over a full year. Hedin also said two-thirds of Fortune 500 companies use Lovable, naming Microsoft, Nvidia and Deutsche Telekom among customers. These adoption figures are company claims and were not independently verified in the report.
Lovable describes its distinction from code-focused assistants as handling more of the path from an idea to a deployed application, including hosting, deployment and scaling. Hedin said apps made on the platform collectively receive close to one billion visits each month, far more traffic than Lovable’s own service.
Investors have funded that growth aggressively. The company raised $300 million in December at a $6.6 billion valuation, followed by $400 million in August at a $13.3 billion valuation. The two rounds, led by Menlo Ventures with other participants, put more than $700 million into the company within eight months while demand for so-called vibe-coding tools accelerated.