Recently, a Swedish AI-powered software creation tool made it into headlines for closing a deal of $200 million Series A round by Accel. This startup is none other than Lovable, which has currently reached a total of $1.8 billion valuation just after launching its first product within eight months. This is one of the greatest news stories for the vibe coding startup as it has created its name in the list of competitors in the artificial intelligence race.
Today, we shall be discussing how Lovable Series funding is great news for the startup and what the future holds for it. In a world full of people who can’t code but have brilliant ideas related to startups and new products, Lovable is a platform for them to express their thoughts and see them in reality. With the help of this Swedish AI unicorn, people who are non-developers can watch their natural language turn into functional apps.
Lovable $200M Series A Raise
Recently, on the news, we saw the rise of an AI-powered software creation tool that made headlines with the Lovable $200M Series A Raise, led by Accel. The list of investors doesn’t end here, as it was also backed by prominent firms like 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. Earlier, in its pre-Series A round, this AI-powered software creation tool had raised a total of $15 million, which was led by Creandum.
The rise of Lovable is quite fascinating, as it had only 30000 paying customers during the pre-Series A round and was clocking $17 million in ARR even after spending only $2 million. This brilliant AI app builder platform was also approached by many notable and famous names, including Sebastian Siemiatkowski, who is the CEO of Klarna; Dharmesh Shah, who is the co-founder of HubSpot; Stewart Butterfield, who is the co-founder of Slack; and Job van der Voort, who is the CEO of Remote.
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2.3 Million Creators using AI-Powered Software Creation Tool
We all know Lovable as an easy AI app builder platform and a vibe coding startup that doesn’t require you to know coding. The no-code development has made it quite popular amongst non-developers who are also content creators and social media influencers. It enables users to generate web and mobile applications using just English prompts and commands. The founder of Lovable, Anton Osika, referred to it as “vibe coding,” and it truly stands by that.
The figure of Lovable is quite impressive as it has over 2.3 million users currently, and looking at the investments right now, this number will increase soon. It has created over 10 million projects, and we definitely see more future projects coming that will make it to the top. The list doesn’t end here, as Lovable has over 180,000+ customers who are paying for the subscription to get the full experience of developing mobile applications and websites. This famous AI-powered software creation tool also achieved a total of $75 million ARR in just seven months!!
EdTech App Made with Lovable Earns $3M in 48 Hours
As mentioned by the founder of Lovable, it is not only targeting the existing developers but also trying to empower a new generation of non-developers and non-technical people. They can be content creators, solo entrepreneurs, or even startup founders. Everyone has access to Lovable, and it is explosive right now!! One biggest examples of using this AI-powered software creation tool is a Brazilian edtech company that created an application through Lovable and generated a total of $3 million in revenue and too within just 48 hours!
Lovable is looking at their big dreams and the big names as their clients, which include Klarna, HubSpot, and Photoroom. These companies aren’t just playing around but rather see it as a platform for building applications for the production and manufacturing of their own products. The rise of this startup has led it to secure a spot at Sifted’s B2B SaaS Rising 100, which ranks some of the most promising startups in Europe. Moreover, Crunchbase data mentioned that Lovable’s raise alone marks a Q3 kickoff for European technology!
Why is Lovable Famous Now
If we are honest, then we have to applaud Lovable for achieving a spot in the race where the artificial intelligence space is crowded. One thing that sets this AI app builder platform apart is that it is not trying to simplify coding, but rather it is trying to minimize the barrier of code entirely. As mentioned by Osika, “There are 47 million developers online and Lovable is going to produce 1 billion potential builders.”
The major factor that plays an important role in its popularity is its accessibility, as unlike Curson, Lovable is accessible to all people, including Creators, founders, and marketers. It is very similar to what Canva did by democratizing creativity, but this time it is happening in software development. Lovable has allowed enterprises to move quickly and faster by testing ideas in just hours, which would usually take months and sometimes even years.
What is the Future of Lovable
With $200 million in the bank and a total of 45 full-time employees, it is simply the start of Lovable and there is so much more they can achieve soon. It seems to us that it will soon make a global expansion and grow its engineering team for the better. It can even scale infrastructure and accelerate their enterprise sales.
So, in a world where startups are making promises to revolutionise software development, Lovable is actually doing it, and we have to give them credit. For more such informative blogs, make sure to check out our page and share your experience and thoughts on this $200 million funding!
