Lovable, a Swedish-based AI-powered coding startup, has achieved unicorn status just eight months after its founding. The company has raised $200 million in a Series A round led by Accel and is valued at $1.8 billion.
Lovable lets users build websites and app prototypes using only natural language. The platform, which requires no technical knowledge, allows for quick visualization of ideas and faster product implementation.
The startup closed a $15 million seed round led by Creandum in February, announcing that it had raised $17 million in annualized revenue (ARR) and 30,000 subscribers with just $2 million in funding.
In early July, the company’s CEO Anton Osika announced that they had reached $75 million in annualized recurring revenue (ARR) and now have 2.3 million users, 80,000 of whom are paid subscribers. These figures make Lovable one of the fastest-growing startups in Europe.
The startup, which has reached unicorn status with a team of just 45 people, has investors including Klarna CEO Sebastian Siemiatkowski, Remote CEO Job van der Voort, Slack co-founder Stewart Butterfield, and HubSpot co-founder Dharmesh Shah.
Lovable’s next goal is to enable users to create not just prototypes, but fully functional, commercially viable apps directly from the platform.
