Lovable, a Swedish AI-assisted coding company, has doubled its annual recurring revenue to two hundred million dollars in just four months. The company’s co-founder and CEO, Anton Osika, announced this milestone on stage at the 2025 Slush technology conference in Helsinki, Finland. This rapid growth occurred only four months after the year-old company surpassed one hundred million dollars in ARR this past July.
Osika credited the decision to remain in Europe as a primary reason for the company’s success. He revealed that Lovable received considerable early advice stating that success required relocating to Silicon Valley in the United States. Osika resisted that temptation and now states that it is possible to build a global AI company from Sweden. He explained that a strong mission attracts available talent and fosters a sense of urgency that brings teams together. He also noted that the less frenetic pace of the European AI market, compared to Silicon Valley, has worked to the company’s advantage.
Investor Zhenya Loginov, a partner at Accel, stated that Lovable flipped the script by attracting strong talent from Silicon Valley companies like Notion and Gusto to work in-person at its Stockholm headquarters. Osika also credited the company’s open-source community for continuously improving its technology, highlighting active community members who drive the product forward through extensive collaboration and debate.
Lovable’s achievement coincides with the growing trend of vibe coding, which is attracting significant venture capital and user traction. Last week, the AI coding assistant Cursor announced it raised two point three billion dollars in a new funding round, valuing the company at twenty-nine point three billion. Accel also helped lead that round.
Since its founding a year ago, Lovable has raised more than two hundred twenty-five million dollars in venture funding. The startup’s most recent round was a two hundred million dollar Series A in July, led by Accel and more than twenty other investors. That funding round valued Lovable at one point eight billion dollars.