Swedish AI Startup Lovable Hits $1.8B Unicorn Status After $200M Series A
Lovable Rockets to Unicorn Status With $200M Series A
Stockholm-based AI startup Lovable has quickly become one of Europe’s hottest tech stories, securing a $200 million Series A round just eight months after its launch. The funding, led by Accel, values Lovable at an impressive $1.8 billion.
Revolutionizing Software Development With AI
Lovable’s platform enables users to build websites and applications using natural language prompts. By leveraging large language models, it simplifies app development, opening doors for both developers and non-coders. This approach puts Lovable in the spotlight alongside other AI coding tools that are transforming the way software is created.
Rapid Growth and User Adoption
- Over 2.3 million active users in just eight months
- More than 180,000 paying subscribers
- Achieved $75 million annual recurring revenue (ARR) within seven months
- Operated by a lean team of just 45 full-time employees
Lovable’s free tier has driven massive user growth, while its paid plans have quickly converted a significant number of users into subscribers. CEO Anton Osika recently highlighted the company’s strong momentum at a public talk.
Backing by Top Investors
The Series A round drew participation from previous backers including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. Notably, Creandum also led Lovable’s earlier $15 million pre-Series A round, which marked the startup’s early surge in ARR and paying customers.
The company also attracted a roster of high-profile angel investors such as:
- Sebastian Siemiatkowski (Klarna CEO)
- Job van der Voort (Remote CEO)
- Stewart Butterfield (Slack co-founder)
- Dharmesh Shah (HubSpot co-founder)
What’s Next for Lovable?
With its unicorn status secured, Lovable is set to further innovate in AI-driven software creation. As the demand for accessible coding tools grows, Lovable’s trajectory signals a bright future for AI-first development platforms in Europe and beyond.
