Swedish AI coding startup Lovable has doubled its annual recurring revenue (ARR) to $200 million in just four months, co-founder and CEO Anton Osika announced at the 2025 Slush technology conference in Helsinki. The milestone comes shortly after the company surpassed $100 million in ARR in July.
Lovable credits its decision to remain in Europe, rather than relocating to Silicon Valley, as a key factor in its rapid growth. Osika emphasized that access to local talent and a measured market pace in Europe helped the company scale efficiently. Investor Zhenya Loginov of Accel highlighted Lovable’s strategy of attracting experienced staff from Silicon Valley firms, bringing them to work in-person in Stockholm.
The company’s open-source community has also contributed to product improvements through active discussions and collaborations online. Lovable has raised more than $225 million in venture funding since its founding a year ago, including a $200 million Series A in July led by Accel, which valued the company at $1.8 billion. The milestone reflects the growing momentum in AI-assisted coding, alongside other industry players like Cursor, which recently raised $2.3 billion.
