Lovable Hits $1B Valuation After $200M Series A Round at 8 Months Old

Lovable, a fast-growing Swedish AI-driven coding platform, has achieved unicorn status as Europe's latest tech standout. Just eight months post-launch, the company secured a $200 million Series A investment round led by Accel, reaching a valuation of $1.8 billion.

Similar to platforms such as Cursor, which assist developers in coding and app development by leveraging the reasoning capabilities of large language models, Stockholm-based Lovable enables users to build websites and applications through natural language commands. The company’s rise has been meteoric, with reported active users now exceeding 2.3 million.

Although the majority of users access Lovable for free, CEO Anton Osika recently revealed the platform now serves over 180,000 paying subscribers. The firm achieved $75 million in annual recurring revenue within just seven months—a key factor behind this substantial Series A round.

The round included continued support from existing investors such as 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. In February, Creandum had led a $15 million pre-series A round for the startup, which at that point reported $17 million in annual recurring revenue and 30,000 paying customers, all achieved with "just $2 million spent."

Lovable’s rapid scaling has been supported by a lean team of only 45 full-time employees. Notably, the round attracted participation from an extensive list of high-profile angel investors, including Klarna CEO Sebastian Siemiatkowski, Remote CEO Job van der Voort, Slack co-founder Stewart Butterfield, and HubSpot co-founder Dharmesh Shah.

A significant portion of Lovable’s user base consists of non-technical individuals who use the platform to build prototypes. These projects can later be refined in collaboration with developers. This approach, alongside testing features, likely accounts for the platform's 10 million projects created to date, as highlighted in the company’s press release.

Beyond prototyping, Lovable aims to evolve into a tool capable of supporting production-grade applications that form the foundation of fully operational businesses.

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“Every day, innovative founders and operators with groundbreaking ideas encounter the same obstacle: the lack of developer resources to bring their vision to life quickly and efficiently,” noted Osika in a public statement.

In a recent post on X, Osika also mentioned that he has become an angel investor in a software startup reportedly built using Lovable. (Based on contextual clues, the company appears to be the ad-testing platform Stardust—we’ve contacted Stardust’s founder for confirmation but have not yet received a response.)

Additionally, Osika shared that a major Brazilian edtech company developed an app with Lovable which generated $3 million in revenue within 48 hours. This success highlights another potential growth channel for the platform, which already serves enterprise clients like Klarna and HubSpot.