Quick-growing Swedish AI vibe coding startup Lovable has turn into Europe’s newest unicorn. Solely eight months since its launch, the startup has raised a $200 million Collection A spherical led by Accel at a $1.8 billion valuation.
Like Cursor and different platforms that assist builders write code and construct apps by harnessing the coding and reasoning talents of enormous language fashions, Stockholm-based Lovable helps individuals use pure language to create web sites and apps. The startup’s trajectory to date has charted straight in the direction of the sky, with the corporate claiming it now has greater than 2.3 million energetic customers.
These customers are utilizing Lovable totally free, to be clear, however in a current discuss, the startup’s CEO Anton Osika mentioned it now has greater than 180,000 paying subscribers, and the corporate had reached annual recurring revenues of $75 million in seven months. That traction probably contributed to this outsized Collection A.
The Collection A noticed participation from current buyers, which embody 20VC, byFounders, Creandum, Hummingbird, and Visionaries Membership. In February, Creandum led a $15 million pre-series A spherical within the firm, which on the time mentioned it had reached annual recurring income of $17 million and had 30,000 paying clients.
The startup has managed this hockey-stick development with a reasonably sparse crew of solely 45 full-time workers. That’s nearly as many because the high-profile angel buyers who it mentioned participated on this spherical, together with Klarna CEO Sebastian Siemiatkowski; Distant CEO Job van der Voort; Slack co-founder Stewart Butterfield; and Hubspot co-founder Dharmesh Shah.
