Lovable, a Swedish unicorn in the vibe coding sector, has managed to double its annual recurring revenue (ARR) to $200 million within just four months, according to co-founder and CEO Anton Osika, who spoke at the 2025 Slush tech event in Helsinki, Finland.
This achievement comes only four months after the company, which is just a year old, first reached $100 million in ARR back in July.
Osika attributed much of the AI-powered coding platform’s rapid growth to its choice to remain in Europe, rather than relocating to Silicon Valley. Despite early recommendations that success would require a move to the U.S., Lovable chose to stay in its home region.
“It was a tempting idea, but I stood firm,” Osika remarked. “Now I can say, ‘see, you can create a global AI business right here.’ If your mission is compelling and your team is driven, there’s a wealth of talent available and a strong sense of urgency when you work together.”
He also noted that Europe’s AI industry, being less frenetic than Silicon Valley’s, has actually played to Lovable’s strengths.
According to Accel partner Zhenya Loginov, the company took an unconventional approach by attracting top talent from Silicon Valley firms such as Notion and Gusto to join their Stockholm office in person.
Osika further acknowledged the ongoing contributions of Lovable’s open-source community, which has been instrumental in advancing their technology.
“We’re witnessing incredible momentum from our community,” Osika stated. “For the past 1,000 hours, they’ve been actively discussing WordPress operations on Discord, which has fueled our progress.”
Lovable’s recent success comes as vibe coding startups continue to attract significant venture capital and experience rapid user growth. Just last week, AI coding assistant Cursor revealed a $2.3 billion funding round, bringing its valuation to $29.3 billion, with Accel among the lead investors.
Since its inception a year ago, Lovable has secured over $225 million in venture capital. Its latest funding, a $200 million Series A led by Accel and supported by more than 20 other backers, valued the company at $1.8 billion.


