Swedish unicorn AI platform Lovable today announced that it has just surpassed $100 million in annual recurring revenue (ARR) in just eight months, and has amassed more than 2.3 million active users. This makes Lovable the #1 fastest-growing software company to reach $ 100 million in revenue of all time, surpassing OpenAI, Cursor, and Wiz.
Last week, Lovable announced that it had closed a $200 million Series A round led by Accel, with participation from existing investors including 20VC, byFounders, Creandum, Hummingbird, and the Visionaries Club. The round valued Lovable at $1.8 billion and marked one of the largest Series A rounds ever raised by a European company.
Lovable also announced that it is now fully agentic, which gives Lovable reasoning capability to think through problems, make plans, and proactively take actions like a real developer. This upgrade significantly raises the ceiling of what people can build with Lovable while reducing errors by 91 per cent.
To date, over 10 million projects have been created on Lovable, with more than 100,000 being created each day. And Lovable has active users in every country around the world.
Lovable’s rapid growth is testament to the response it has received from users. Unlike AI coding tools for professional developers, Lovable focuses on making software creation accessible to everyone. Both technical and non-technical people are building production-grade applications and hosting them on Lovable.
Anton Osika, CEO and co-founder of Lovable, comments:
“The biggest barrier to building businesses is coding. 99 per cent of people have great ideas and can execute on a business, but they don’t know how to write code. Lovable means anyone can go from idea to software in minutes.
Despite our rapid growth, we are still just beginning to understand what this means for people and businesses around the world. 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 is fully agentic, meaning it can now interpret a request, explore the users' codebase, make the right changes and fix issues along the way.
The platform can, for example, search the web in real-time to fetch documentation, content, images, or even screenshots needed to complete a task, inspect logs and network activity to identify and debug errors without users manually feeding in errors, and read files on demand to understand an app’s structure and edit with full context.
Lovable has also launched a new Business Plan, which gives users enterprise-grade security, privacy, and control.
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