Swedish AI startup Lovable announced it has surpassed $100 million in annual recurring revenue (ARR) just eight months after its launch. According to the company, this makes it the fastest-ever software company to reach that milestone, exceeding the growth rates of previous record-holders.
Lovable, which was co-founded by Anton Osika in 2023, operates a generative AI platform that enables users without technical backgrounds to build websites and applications using simple text prompts. The company reports it has over 2.3 million active users, who have built more than 10 million projects on the platform, with over 100,000 new projects being created daily.
Last week, the Stockholm-based startup announced a $200 million Series A funding round led by Accel. The round, which included participation from 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club, valued the company at $1.8 billion.
Lovable also recently upgraded its platform to be “fully agentic,” giving it the ability to autonomously search the web, debug code, and edit applications without human intervention. Alongside this technical update, the company launched a new Business Plan aimed at enterprise customers, which includes features like reusable templates, self-serve SSO, private projects, and a data opt-out option. Early customers for the new plan include Klarna, Hubspot, and Photoroom.
