Stockholm-based AI startup Lovable has raised $200 million in a Series A funding round led by Accel, pushing its valuation to $1.8 billion. The announcement comes just eight months after the company’s launch.
Lovable allows users to build websites and apps using natural language prompts, similar to platforms like Cursor. The company claims over 2.3 million active users, with more than 180,000 of them now paying subscribers.
CEO Anton Osika said the company has reached $75 million in annual recurring revenue within seven months.
“Today, there are 47M developers worldwide. Lovable is going to produce 1B potential builders,” he said in a post on X.
The latest round saw participation from existing backers, including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. In February, Creandum led a $15 million pre-Series A investment when Lovable had 30,000 paying customers and $17 million in ARR, having spent only $2 million.
The company currently operates with a team of 45 full-time employees. The Series A round also attracted a long list of angel investors, including Klarna CEO Sebastian Siemiatkowski, Remote CEO Job van der Voort, Slack co-founder Stewart Butterfield, and HubSpot co-founder Dharmesh Shah.
Most of Lovable’s users are non-technical individuals building prototypes that are later developed further with engineering support. According to a press release, more than 10 million projects have been created on the platform to date.
Osika said the company is not targeting existing developers but a new category of users entirely. “99% of the world’s best ideas are trapped in the heads of people who can’t code. They have problems. They know the solutions. They just can’t build them.”
Lovable is also being used by enterprises such as Klarna and HubSpot, and its leadership sees the platform evolving into a tool for building full-scale production applications.
“Every day, brilliant founders and operators with game-changing ideas hit the same wall: they don’t have a developer to realise their vision quickly and easily,” Osika said in a statement.
Osika also said on X that he has become an angel investor in a software startup built using Lovable.
In another recent example, Osika noted that a Brazilian edtech company built an app using Lovable that generated $3 million in 48 hours.
Lovable’s growth trajectory suggests increased adoption among both individual users and enterprise customers, positioning it as a significant player in the growing AI-powered software creation market.
