Stockholm-based startup Lovable has achieved a remarkable milestone by hitting over $100 million in annualized revenue within eight months of its launch. The company’s AI-powered platform enables millions of non-coders to instantly create websites, apps, and online side hustles.
Lovable’s co-founder and CEO Anton Osika credits the AI tool for saving the company tens of thousands of dollars on developers and around four months’ work. The platform has also been used by prominent investors like Accel partner Ben Fletcher, who built a gadget that helps sift through startup sales data in just a weekend.
Since its launch last November, Lovable has seen 750,000 projects built with the help of generative AI, including apps, websites, and entire businesses. The platform’s users have booked over $120,000 in sales from the site since May.
Lovable’s success has made it the fastest-growing software startup in history, surpassing other notable rocketships like Wiz and Deel. However, the company faces intense competition from well-funded Bay Area rivals and AI giants like OpenAI and Google.
Despite this, Osika believes Lovable’s focus on portfolio sites and simple prototypes sets it apart. The platform’s users are primarily tinkerers, designers, and entrepreneurs who can create projects for free, but unlock more-complex features with fees starting at $25 per month.
Lovable’s growth is driven by its use of AI models like Anthropic’s Claude, which power the coding tool. However, this reliance on a single model may pose vulnerabilities to competition from other startups using similar tools.
Ultimately, Lovable aims to provide an enabling tool for humans to make ideas come to life in minutes. As Osika says, “Humans understand humans,” and he believes that Lovable’s focus on user experience will set it apart in the competitive market.
Source: https://www.forbes.com/sites/iainmartin/2025/07/23/vibe-coding-turned-this-swedish-ai-unicorn-into-the-fastest-growing-software-startup-ever