Swedish vibe coding unicorn Lovable has doubled its annual recurring revenue (ARR) to $200 million in just four months, co-founder and CEO Anton Osika said on stage at the 2025 Slush technology conference in Helsinki, Finland.
The milestone comes just four months after the year-old company surpassed $100 million in ARR in July.
Osika credited the AI-assisted coding software maker’s decision not to move to Silicon Valley as the main reason for its success thus far. Osika said Lovable decided to stay in Europe despite getting a lot of early advice that the company would only be successful if it left the region and relocated to the U.S.
“It was tempting, but I really resisted that,” Osika said. “I [can] sit here now and say, ‘look, guys, you can build a global AI company from this country’. There is more available talent if you have a strong mission, and you have a lot of urgency coming together as a group and working.”
He added that the fact that the AI market in Europe is not as high-paced as the market in Silicon Valley has worked to his company’s benefit.
The company “flipped the script” by bringing strong talent from Silicon Valley companies like Notion and Gusto to work in-person in Stockholm, investor Zhenya Loginov, a partner at Accel, said.
Osika also credited the company’s open-source community for continuing to improve its technology.
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“We just see all of these people in the community driving forward,” Osika said. “They’ve been active voices on Discord for, I think, the last 1,000 hours, debating some kind of WordPress operation. That was powering what we’re doing.”
Lovable’s milestone comes as vibe coding continues to gobble up venture capital and see soaring traction among users. Last week AI-coding assistant Cursor announced it raised $2.3 billion in a new funding round that valued the company at $29.3 billion in a round Accel also helped lead.
Lovable has raised more than $225 million in venture funding since it was founded a year ago. The startup most recently raised a $200 million Series A round in July led by Accel in addition to more than 20 other investors. That round valued the company at $1.8 billion.
