Swedish Startup Lovable Hits $1.8B Valuation with $200M Raise
Swedish AI Startup Lovable Joins Unicorn Club with $200M Funding Round
Stockholm, Sweden - In a remarkable display of growth, Swedish startup Lovable has reached unicorn status just eight months after launch, closing a $200 million Series A round that values the company at $1.8 billion. The AI-powered coding platform has quickly become one of Europe's most promising tech ventures.
Rapid Growth in User Base and Revenue
Lovable's platform enables users to create websites and applications through natural language processing, dramatically simplifying the development process for both technical and non-technical users. The company reports:
- 2.3 million active users (mostly on free tier)
- 180,000 paying customers
- $75 million in annual recurring revenue
"Our growth demonstrates the massive demand for accessible development tools," said CEO Anton Osika. "We're seeing particular traction among entrepreneurs who lack technical teams but need to prototype quickly."
Notable Investors Back AI Vision
The funding round was led by prominent VC firm Accel, with participation from:
- 20VC
- byFounders
- Creandum
- Hummingbird
- Visionaries Club
The deal also attracted high-profile angel investors including:
- Sebastian Siemiatkowski (Klarna CEO)
- Job van der Voort (Remote CEO)
- Stewart Butterfield (Slack co-founder)
- Dharmesh Shah (HubSpot co-founder)
Platform Impact and Future Plans
Lovable has already facilitated the creation of over 10 million projects, with many users leveraging the platform to:
- Build initial prototypes
- Collaborate with developers on refined versions
- Launch production-ready applications
The company cites one notable case where a Brazilian edtech firm generated $3 million in revenue within 48 hours using a Lovable-built application.
"Our goal is to bridge the gap between idea and execution," Osika explained. "The next phase involves enhancing our tools for commercial-grade application development."
Key Points:
- 🦄 Lovable reaches $1.8B valuation after $200M Series A
- 💻 AI platform simplifies coding via natural language
- 📈 2.3M users with $75M ARR
- 🌍 Strong adoption among non-technical founders
- 🔥 Notable investor backing signals market confidence