Lovable, an AI-powered coding platform, has become one of the fastest-growing startups in the software industry in just a year. Lovable is helping to develop more than 100,000 new products every day and has nearly 8 million users, the platform’s CEO Anton Osika said at the Web Summit in Lisbon.
Lovable had 2.3 million active users in July of this year, quadrupling its user base in just four months. That same month, the startup closed a $200 million Series A round led by Accel, earning it unicorn status at a valuation of $1.8 billion.
CEO Osika also noted that the company’s net revenue retention rate is above 100%, with users spending more on the platform over time. Lovable now has over 100 employees, and experienced executives from San Francisco are joining the team.
When it comes to competition, while the introduction of coding tools by giants like OpenAI and Anthropic is a challenge for Lovable, Osika doesn’t see it as a threat:
“If these technologies enhance human creativity and productivity, whoever does it should be celebrated.”
Lovable’s mission is set to “create the ultimate software”; the platform aims to provide users with a single, simple interface for all stages of product development — from user concept to feature release.
