Swedish coding unicorn Lovable has achieved a remarkable milestone, doubling its annual recurring revenue (ARR) to $200 million within just four months. This announcement was made by co-founder and CEO Anton Osika during the 2025 Slush technology conference held in Helsinki, Finland, marking a notable accomplishment just four months after exceeding $100 million in ARR in July.
Osika attributes this rapid growth to the company’s strategic decision to remain in Europe rather than relocating to Silicon Valley, despite receiving early advice to do so. “We faced the temptation to move, but I resisted,” Osika stated. “I can confidently say that a global AI company can thrive from this region. When you have a clear mission and a strong collective urgency, the available talent is abundant.”
He further explained that the comparatively slower pace of the AI market in Europe has played to Lovable’s advantage, allowing for sustained development and innovation. The company has enriched its talent pool by attracting professionals from notable Silicon Valley firms such as Notion and Gusto to collaborate in-person in Stockholm, according to investor Zhenya Loginov, a partner at Accel.
Moreover, Lovable’s success is bolstered by its vibrant open-source community, which has significantly contributed to the advancement of its technology. “We have a dynamic community actively participating on Discord for over 1,000 hours, sharing insights on various projects. Their engagement is integral to our progress,” Osika remarked.
This milestone for Lovable aligns with the surging interest in vibe coding, which has been receiving substantial venture capital investment. Just last week, AI-coding assistant Cursor announced a $2.3 billion funding round, bringing its valuation to $29.3 billion—a round also led by Accel.
In total, Lovable has raised over $225 million in venture funding since its inception just a year ago, with its most recent Series A round of $200 million in July valuing the company at $1.8 billion.
