Lovable Becomes A Unicorn With $200m Series A Just 8 Months After Launch

Fast-growing Swedish AI vibe coding startup Lovable has go Europe’s latest unicorn. Only 8 months since its launch, nan startup has raised a $200 cardinal Series A information led by Accel astatine a $1.8 cardinal valuation.

Like Cursor and different platforms that thief developers constitute codification and build apps by harnessing nan coding and reasoning abilities of ample connection models, Stockholm-based Lovable helps group usage earthy connection to create websites and apps. The startup’s trajectory truthful acold has charted consecutive towards nan sky, pinch nan institution claiming it now has much than 2.3 cardinal progressive users.

Those users are utilizing Lovable for free, to beryllium clear, but successful a recent talk, nan startup’s CEO Anton Osika said it now has much than 180,000 paying subscribers, and nan institution had reached yearly recurring revenues of $75 cardinal successful 7 months. That traction apt contributed to this oversized Series A.

The Series A saw information from existing investors, which see 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. In February, Creandum led a $15 cardinal pre-series A round successful nan company, which astatine nan clip said it had reached yearly recurring gross of $17 cardinal and had 30,000 paying customers. 

The startup has managed this hockey-stick maturation pinch a beautiful sparse squad of only 45 full-time employees. That’s almost arsenic galore arsenic nan high-profile angel investors who it said participated successful this round, including Klarna CEO Sebastian Siemiatkowski; Remote CEO Job van der Voort; Slack co-founder Stewart Butterfield; and Hubspot co-founder Dharmesh Shah.