Lovable, a Swedish vibe coding startup valued at $6.6 billion, saw its torrid growth accelerate even as Anthropic’s Claude Code went viral over the past few months.
The Swedish startup says its annual recurring revenue has surged by more than 30%, from $300 million to $400 million in a single month, and could top $1 billion by year’s end, Lovable’s chief revenue officer, Ryan Meadows, told Business Insider in an exclusive interview. ARR refers to the predictable revenue a company expects to generate over a year from subscriptions or recurring contracts.
Lovable’s breakout growth comes amid a broader boom in AI-powered coding tools, which include Claude Code and startup Cursor, which was last valued at nearly $30 billion. In late 2025, Cursor said it had $1 billion in annualized revenue.
Lovable launched at the end of 2024 and reached $100 million in ARR just eight months later, doubling to $200 million by the end of 2025.
Vibe coding allows novices with limited programming expertise to create code using AI. Lovable, founded by Anton Osika and Fabian Hedin, aims to make coding even more user-friendly, enabling non-engineers to make software and applications. It was valued at $6.6 billion in a December funding round led by CapitalG and Menlo Ventures’ Anthology fund.
“It’s accelerating quite a bit,” Meadows said. “We’ve doubled the number of active users daily just in the last couple of months.” Lovable now boasts over 15 million daily active users and sees 200,000 new vibe coding projects created each day, according to Meadows.
The vast majority of Lovable users are still non-technical founders and entrepreneurs, but Meadows says the company is seeing its fastest growth from the enterprise business it launched in August.
Anthropic is a partner rather than a competitor
Lovable’s most recent growth spurt occurred after the release of Claude Code. But rather than eating into Lovable’s market share, Meadows says most customers use both tools. Professional software developers and engineering teams use Claude, while non-technical staffers prefer Lovable.
“It’s a rising tide,” he said. “We’ve been super happy with what we’re seeing.”
Lovable is powered by Claude, and when Anthropic launched its marketplace this week, it prominently featured Lovable.
“They’re pretty committed to working with us to pass business through,” said Meadows. “We’re going to keep investing in that partnership.”
A hiring spree
Lovable has rocketed to $400 million in ARR with a lean staff of just 146 employees, said Meadows. This year, the company will embark on a hiring spree, mostly in product and engineering roles, and will end the year with around 350 employees, he added.
Though its engineering team will continue to be based in Stockholm, the company will be opening its first US office this year in Boston to house go-to-market roles.
“We can’t hire fast enough,” Meadows said.
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