Lovable Hits Unicorn Status in Just Eight Months After Launch
Stockholm-based startup Lovable secured a $200 million Series A round today, propelled by Accel and backed by existing investors, and now holds a valuation of $1.8 billion.
Launched only in November 2024, Lovable offers a platform that translates natural language prompts into fully functional apps for websites, databases, and back-end services. Its cofounders, Anton Osika and Fabian Hedin, positioned the company to serve non-technical users who want to build software quickly. In eight months, the platform attracted 2.3 million active users and has 180,000 paying users generating $75 million in annual recurring revenue.
According to TechCrunch, the round was led by Accel, with contributions from Creandum, byFounders, 20VC, Hummingbird, and Visionaries Club. Angel investors include Sebastian Siemiatkowski of Klarna, Job van der Voort of Remote, Stewart Butterfield of Slack, and HubSpot cofounder Dharmesh Shah. The startup continues to run with just 45 full-time employees.
Following a February pre-Series A led by Creandum that brought in $15 million, Lovable reported an annual run rate near $17 million and around 30,000 paying customers. Active and paid user growth accelerated quickly. Today’s numbers reflect skyrocketing demand: revenue scaled to $75 million with a similar jump in paying subscribers.
Lovable offers a “vibe coding” platform that transforms conversational prompts into full-stack applications. The most popular use cases include rapid prototyping and app creation for teams without software development expertise. A single large Brazilian edtech firm reportedly built an app using Lovable and generated $3 million in two days. Their enterprise clients include HubSpot and Klarna.
Anton Osika described the founding purpose on X (formerly Twitter):
“Every day, brilliant founders and operators with game‑changing ideas hit the same wall: they don’t have a developer to realize their vision quickly and easily”.
He added that one of his own angel investments came from using Lovable-built tools.
With today’s large infusion of capital, Lovable plans to expand its engineering team across Europe. The funds will support feature development for the core product, an improved developer ecosystem, and deeper enterprise integrations.
What this means for the AI startup ecosystem?
Europe has seen a surge in AI-powered ventures; Lovable joins recent successes like Germany’s Humane and France’s Mistral AI. Today’s investment underlines growing confidence in “AI-native” foundations and signals investor interest shifting toward tools designed for mainstream users.
Despite rapid user growth and robust revenues, Lovable faces competition from established low-code and no-code platforms including Microsoft’s Power Apps, Google’s AppSheet, and startups that sit alongside Cursor. Success will depend on platform reliability, scalability, and the company’s ability to attract customers willing to pay beyond the free tier.
Lovable’s this achievement of raising $200 million in a flagship round and reaching unicorn valuation in eight months marks a rare acceleration in European tech and AI future.
The founding team’s lean structure illustrates how modern software companies can scale via AI-driven platforms.
As Lovable advances and adds features tailored to enterprise needs, its progress may define the next generation of software development tools.
