Swedish “vibe-coding” startup Lovable has reached $200 million in annual recurring revenue (ARR), doubling its total from just four months earlier, co-founder and CEO Anton Osika told attendees at the Slush 2025 technology conference in Helsinki.
Lovable determines ARR by taking the prior month’s revenue, multiplying it by 12, and annualizing the result, according to Osika.
The Swedish company, founded in 2023, has experienced rapid growth since launching its AI-powered app-building product in late 2024. Now, Osika is eyeing a larger enterprise customer base.
“If you look at people who have accounts from enterprises, it’s like half [of customers],” he told Fortune. “Most of it is coming from an individual who starts using Lovable and then brings it into the company. And then, in some cases, it’s growing into a larger contract across the entire company and turning into multi-million-dollar deals.”
Osika describes Lovable’s mission as democratizing software engineering by leaning into “vibe-coding,” where a user describes in plain language the app they want to build or the function of a piece of software they want to create, and the AI takes care of actually writing the code to produce that result.
