Europe’s newest AI darling, Stockholm-based coding app Lovable, says it’s hit $100m annual recurring revenue (ARR) just a week after announcing a $200m funding round.
Reaching this milestone revenue figure just eight months after launching makes Lovable the fastest-growing software company ever, it claims.
The ‘vibe coding’ startup, which enables even people who don’t know how to code to build websites and apps, also says it now has 2.3m active users, with customers in every country in the world. (When Sifted asked if that meant Lovable had users in, for example, North Korea, it confirmed that it has users in every country in the world in which it is available.)
More than 10m projects have been created on Lovable to date, with more than 100k now being created every day.
Last week, it announced a $200m Series A funding round led by Accel, at a $1.8bn valuation, with participation from existing investors like 20VC, byFounders, Creandum, Hummingbird and Visionaries Club. Following the news, plenty of those (and other investors) proudly took to LinkedIn to reminisce about how they met Lovable’s cofounder and CEO Anton Osika.
What’s next?
Lovable is on a drive to attract more enterprise customers, with Klarna, Hubspot and Photoroom already onboard.
The company declined to share what percentage of its revenue currently comes from enterprise customers, or what percentage of its customers are on monthly vs. annual plans.
It’s also hiring (although modestly), with 14 open positions listed on its website across its engineering, growth and business teams.
