Lovable, the Swedish-based AI software creation platform company, today announced an acceleration of its product, infrastructure, and team development efforts — and a noteworthy round of Series C funding totaling $400 million.
The company said in its statement that it is looking to augment its platform, which it boasts is already used by almost two-thirds of Fortune 500 companies.
Headquartered in Stockholm, Lovable plans to grow its team to 450 people this year, hiring most heavily in machine learning, product, infrastructure, and security roles, and is looking to expand operations from its home base to include locations in London and three US cities: Boston, San Francisco, and New York City.
The planned growth is made possible by the latest infusion of venture capital, which follows a $330 million Series B funding round last December. Lovable now has a $13.3 billion valuation.
The Series C funding was led by Menlo Ventures and the Scaleup Europe Fund and includes US-based Regent. (Regent is the parent company of Foundry.)
