Lovable: The AI Vibe Coding Startup Redefining Software Development

Lovable becomes a unicorn with $200M Series A just 8 months after launch | TechCrunch

Fast-growing Swedish AI vibe coding startup Lovable has become Europe's latest unicorn. Only eight months since its launch, the startup has raised a $200 million Series A round led by Accel at a $1.8 billion valuation. Like Cursor and other platforms that help developers write code and build apps by harnessing the coding and reasoning abilities of large language models, Stockholm-based Lovable helps people use natural language to create websites and apps. The startup's trajectory so far has charted straight towards the sky, with the company claiming it now has more than 2.3 million active users. Those users are using Lovable for free, to be clear, but in a recent talk, the startup's CEO Anton Osika said it now has more than 180,000 paying subscribers, and the company had reached annual recurring revenues of $75 million in seven months. That traction likely contributed to this oversized Series A. The Series A saw participation from existing investors, which include 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. In February, Creandum led a $15 million pre-series A round in the company, which at the time said it had reached annual recurring revenue of $17 million and had 30,000 paying customers. The startup has managed this hockey-stick growth with a pretty sparse team of only 45 full-time employees. That's almost as many as the high-profile angel investors who it said participated in this round, including Klarna CEO Sebastian Siemiatkowski; Remote CEO Job van der Voort; Slack co-founder Stewart Butterfield; and Hubspot co-founder Dharmesh Shah.

Eight months in, Swedish unicorn Lovable crosses the $100M ARR milestone | TechCrunch

Less than a week after it became Europe's latest unicorn, Swedish vibe coding startup Lovable is now also a centaur -- a company with more than $100 million in annual recurring revenue (ARR). Lovable took only eight months since its launch to get here, thanks to the skyrocketing popularity of its AI-powered website and app builder. The startup claims it now has more than 2.3 million active users, and last reported 180,000 paying subscribers. With only 45 full-time employees, and 14 open positions on its careers page, that makes for an impressive employee-to-revenue ratio. Subscriptions seem to be driving the bulk of Lovable's revenue, but the company isn't prioritizing sales at all costs. Shortly after Lovable said it had reached ARR of $75 million in June, its CEO Anton Osika wrote on X that Lovable had "lost $1.5 million ARR in a single day" because it had moved all users on its Team tier to its less expensive Pro tier, which now also accommodates collaboration. The Teams plan is now being replaced by a Business tier, which sits between the Pro and custom Enterprise offerings. The new plan offers business-focused features such as self-serve, Single Sign-On (SSO), templates, private projects that won't be visible to the entire team, and the option to opt-out from having your data be used for training. Lovable already has a slate of large customers like Klarna, Hubspot and Photoroom, but there are still notable barriers and concerns around vibe coding among enterprises -- where the big money is. This new tier could help Lovable find intermediary use cases and drive more businesses to use its tools for more than prototyping, which is what the startup says most people use it for today. This has been one focus for the company, and Osika recently said that businesses were driving significant revenue from projects built with Lovable. The startup says more than 10 million projects have been created on Lovable to date. The $100 million ARR club isn't large, especially in Europe, but it is growing thanks to tailwinds from all things AI. In April, Nvidia-backed B2B AI video platform Synthesia, also surpassed that milestone -- though it was founded in 2017, not late 2024.

Vibe coding platform Lovable becomes fastest-growing software startup ever

Stockholm-based Lovable has hit another milestone in its remarkable rise Swedish AI startup Lovable says it has surpassed $100mn in annual recurring revenue (ARR) just eight months after launch. That makes it the fastest-growing software startup ever -- eclipsing the historically rapid growth rates of companies such as Cursor and Wiz. Lovable's rise stems from the popularity of its generative AI platform. The system allows non-technical users to build apps or websites based on simple text prompts. The platform is the brainchild of Anton Osika, who co-founded Lovable in 2023. "I decided what we needed to do is build for the 99% who do not create software," he told TNW in April. By allowing non-technical founders to create successful businesses without any prior coding or software experience, Osika believes the company is "unlocking a new economy." Lovable has now reached over 2.3 million active users and seen more than 10 million projects built on its platform. According to the company, more than 100,000 new projects are being created each day. Last week, Lovable announced a $200mn Series A round led by Accel, with participation from 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. The funding valued the startup at $1.8bn and ranks among the largest Series A rounds ever raised by a European company. Lovable also revealed it is now "fully agentic," giving the platform the ability to "think through problems, make plans, and proactively take actions like a real developer." The upgrade enables Lovable to search the web for content, debug code, and edit applications with full context -- all without human intervention. The company has also launched a Business Plan offering "enterprise-grade security, privacy, and control," which includes features like reusable templates, self-serve SSO, private projects, and data opt-out. Early customers include Klarna, Hubspot, and Photoroom. "Despite our rapid growth, we are still just beginning to understand what this means for people and businesses around the world," Osika said in a statement. "AI is unlocking the potential for people to build easily, create new companies at an unprecedented rate, and have a positive impact on the world."

Lovable, A Swedish AI Vibe Coding Startup, Becomes Unicorn With $200M Series A

Swedish AI vibe coding startup Lovable has raised $200 million in a Series A round of funding at a $1.8 billion valuation, making it Europe's newest unicorn, according to TechCrunch. The raise, led by Accel, comes just eight months after the startup's launch. Founded in 2023, Lovable has to date raised about $224 million in funding. Existing backers 20VC, byFounders, Creandum, Hummingbird Ventures and Visionaries Club also participated in its latest financing. In December 2024, CEO and co-founder Anton Osika posted on X that the company was "the fastest growing startup in Europe ever," having reached $4 million in ARR in four weeks. In February, the startup raised $15 million in a round led by Creandum. At that time, the company said it had reached $17 million in annual recurring revenue and had over 30,000 paying customers. "Lovable isn't just about writing code -- it's about making software creation accessible to everyone," it said at the time. Vibe coding is a hot space, pulling in massive rounds of funding globally. In June, San Francisco-based Anysphere, which sells the popular AI coding assistant Cursor, confirmed it raised a $900 million round at a staggering $9.9 billion valuation. Accel also participated in that round. Lovable appears to be focused more on the nontechnical user while Anysphere is targeting the enterprise. Europe funding boost The raise is a good start to the third quarter for Europe. Overall, funding to startups in the region settled in Q2, coming in flat quarter over quarter, but down 24% from the peak second quarter in 2024, Crunchbase data shows. A total of $12.6 billion was raised by around 1,200 startups across Europe last quarter, with funding amounts comparable with the previous two quarters. And for the first time since 2012, Germany-based startups jumped ahead of the United Kingdom by amounts invested in a quarter.

AI vibe coding startup Lovable raises $200M at $1.8B valuation - SiliconANGLE

Swedish artificial intelligence software development startup Lovable Labs Inc. today announced it raised $200 million in a Series A round that values the company at $1.8 billion. Founded in 2023, the company's product allows software developers to rapidly prototype and build websites and apps using a method called "vibe coding," an AI-assisted development approach where developers use natural language to instruct AI tools to generate, refine and debug code. It emphasizes fast, improvisational and iterative experimentation that relies heavily on AI for code completion. Accel led the round. The company's existing investors, 20VC, ByFounders, Creandum, Hummingbird and Visionaries Club, also participated in the round. It comes just six months after the company raised $15 million in pre-Series A funding in February. In a recent talk, Lovable's Chief Executive Anton Osika said the company now exceeds 180,000 paying subscribers and reached annual recurring revenues of $75 million in seven months. The company provides numerous tools for developers, with a focus on non-technical users, providing them with everything they need to go from idea to working application quickly. The company's website tagline is "Build something Lovable." A user needs only start by typing an idea into the website's chatbox to begin their journey, which can also take uploads of images, documents, flowcharts and more. Slightly more technical users can also import their work from Figma, a cloud-based design and prototyping tool for creating user interfaces and user experiences, to provide the AI tool with a framework to build the logic behind their application. Apps built by the community can be developed privately or displayed publicly. This allows other users to borrow, remix and reuse the code generated in those projects in their work. Some examples include a Quick Response code generator, an invoice template generator and the "Engine Arcade" that can create video games from just a prompt. Lovable also recently launched an agentic AI capability in beta mode at the tail end of June. Agent Mode allows Lovable to think, plan and take actions automatically on behalf of the user, meaning that the user can provide a full specification document of their intent for the application and let Lovable build parts of their project. It is part of a new series of capabilities that will search the codebase of the user to extract files, functions and components to use, read files to understand app structure, inspect logs and debug errors on its own and run web searches to fetch documentation, content and images - and even edit them on demand. Lovable said that it will essentially act like a software developer. Currently, Agent Mode can be used for simple requests, such as writing straightforward functions for projects, or more complex requests, such as building complex features, all without needing a lot of interactivity or hand-holding.

Lovable Becomes AI Unicorn with $200 Million Series A Led by Accel in Less than 8 Months | AIM

"Today, there are 47M developers worldwide. Lovable is going to produce 1B potential builders." Stockholm-based AI startup Lovable has raised $200 million in a Series A funding round led by Accel, pushing its valuation to $1.8 billion. The announcement comes just eight months after the company's launch. Lovable allows users to build websites and apps using natural language prompts, similar to platforms like Cursor. The company claims over 2.3 million active users, with more than 180,000 of them now paying subscribers. The latest round saw participation from existing backers, including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. In February, Creandum led a $15 million pre-Series A investment when Lovable had 30,000 paying customers and $17 million in ARR, having spent only $2 million. The company currently operates with a team of 45 full-time employees. The Series A round also attracted a long list of angel investors, including Klarna CEO Sebastian Siemiatkowski, Remote CEO Job van der Voort, Slack co-founder Stewart Butterfield, and HubSpot co-founder Dharmesh Shah. Most of Lovable's users are non-technical individuals building prototypes that are later developed further with engineering support. According to a press release, more than 10 million projects have been created on the platform to date. Osika said the company is not targeting existing developers but a new category of users entirely. "99% of the world's best ideas are trapped in the heads of people who can't code. They have problems. They know the solutions. They just can't build them." Lovable is also being used by enterprises such as Klarna and HubSpot, and its leadership sees the platform evolving into a tool for building full-scale production applications. "Every day, brilliant founders and operators with game-changing ideas hit the same wall: they don't have a developer to realise their vision quickly and easily," Osika said in a statement. Osika also said on X that he has become an angel investor in a software startup built using Lovable. In another recent example, Osika noted that a Brazilian edtech company built an app using Lovable that generated $3 million in 48 hours. Lovable's growth trajectory suggests increased adoption among both individual users and enterprise customers, positioning it as a significant player in the growing AI-powered software creation market.