Stockholm-based AI startup Lovable AI has shattered growth benchmarks by reaching $100 million in annual recurring revenue (ARR) just eight months after its launch, surpassing even giants like OpenAI, Cursor, and Wiz. With 2.3 million active users and 180,000 paying customers, the company claims the title of fastest software startup in history to this milestone
What’s Fueling This Explosive Traction?
- Vibe‑coding for Everyone: Lovable’s platform lets users—from noncoders to seasoned pros—build apps or websites using plain English prompts. In June alone, 750,000 projects were created via simple descriptions
- Fully Agentic AI: Lovable Agent now reasons like a senior developer—debugging, iterating, and integrating across files—with a reported 91% reduction in errors
- Lean Yet Mighty Team: Achieved $100M ARR with only ~45 team members—outpacing rivals who took 12–18 months to scale
Big Names, Big Numbers
The company recently closed a $200M Series A led by Accel, valuing Lovable at approximately $1.8 billion. Other backers include 20VC, Creandum, and Hummingbird
Who’s Building—and Benefiting?
- Over 10 million projects have been launched; daily creation rate: 100,000+
- High-profile users include enterprises like Klarna, HubSpot, Photoroom, along with startups like FrameSage and Quicktables, which were built with Lovable in weeks and even generated millions in revenue
Why It Matters for the Tech Industry
- Democratizes software creation — you no longer need code skills to build real products.
- Sets new SaaS speed records, redefining growth expectations in Europe and globally.
- Agent-based AI is now mainstream, not just a concept—proving its value in real-world development.
Next Up: Aiming for $1 Billion
With Agent mode now standard and robust enterprise features rolling out, Lovable is not stopping. CEO Anton Osika believes the same AI-driven engine that powered its first $100M will carry it toward $1 billion ARR.
✅ Bottom Line
Lovable AI’s journey—from launch to $100M ARR in just eight months—is a groundbreaking achievement in the SaaS world. With powerful AI tooling, lean operations, and big-name backing, the company is not only rewriting startup speed records but also redefining who can build software—and how fast.
