Software Creation for All: Leading Lovable’s $330M Series B

The largest software market isn’t the one we’ve been serving; it’s the one we’ve been missing. 

Until recently, building software had been limited to roughly 50 million people worldwide who can code. But there are upwards of a billion other knowledge workers—product managers, sales reps, operations teams, founders—who’ve had ideas but lacked the technical skills to build them. AI is unlocking this massive unserved market. Cloud computing did this for infrastructure, Canva did this for design, and Uber* did this for urban mobility. Software creation is undergoing the same shift—only faster.

The key force behind this shift is Lovable*. By making natural language the interface for building software, Lovable has turned creation into something anyone can do. The market that emerges from this is dramatically larger than the one the industry has served for decades, and the early signals are unmistakable. Lovable is one of the fastest-growing companies in history. Over 25 million projects were created in just over a year, and the phenomenon is accelerating with more than 100,000 new projects created every day and 6 million daily visits to Lovable-built apps. The impact is far-reaching as use cases range from first-time founders turning an idea into revenue to Fortune 500 teams compressing development cycles from weeks to days. People have always wanted to build and create. Now they can, with a simplicity and speed that would have seemed impossible a year ago.

Today, we’re excited to co-lead Lovable’s $330M Series B round with CapitalG and help Lovable enable the next generation of builders.

Category Creators

We first met CEO Anton Osika in August 2024, shortly before GPT-Engineer—an open-source precursor to Lovable—entered beta. Even then, it was clear that Anton and his co-founder Fabian Hedin weren’t chasing marginal improvements. Their ambition was to rethink the act of building software from first principles; in their words, they were determined to “build the last piece of software.” 

Anton had spent years building at the frontier: He was employee #3 and a founding engineer at Sana Labs* before co-founding and serving as CTO of Depict AI. Fabian was a technical lead at Depict with Anton and founded two companies before Lovable. Together, they understood both the bottlenecks in software creation and the opportunity AI made possible. 

Over 18 months, we built the foundation for this partnership: strategy check-ins, whiteboard sessions, recruiting help, and valuable in-person time both in Stockholm and SF. In a market where rounds close in a week, Anton took a different approach. He wanted to truly understand the partners who would be with him long after the round closed, and we were honored to earn that trust.

During that time, the team executed with consistency and clarity. Lovable became the first hands-on AI experience for millions of people. What began as individual experiments grew into workflows for teams, then moved up into the enterprise. The company recruited exceptional builders from Notion, Gusto, Slack, and Klaviyo—people who moved to Stockholm and helped build Lovable into the global household name it is today.

Building the Future

At Menlo, we back iconic companies that expand what’s possible with AI. Anthropic* built the foundation models. Suno* democratized music creation. Higgsfield* transformed video generation. Lovable is expanding who can build software. Each removes a fundamental constraint and unlocks entirely new latent markets as a result.

Anton, Fabian, and the Lovable team are building something rare: a product with genuine consumer love that’s scaling into the enterprise, a global brand built from Stockholm, and a category that didn’t exist 18 months ago. We’re proud to co-lead this round and to support Lovable as they transform not just how software gets built, but who can build it.

If you’re building for the markets finally unlocked by AI, we’d love to hear from you.

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*Backed by Menlo Ventures