What Happened: Lovable’s Explosive Growth

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 indeed 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.”

What is⁢ “Vibe-Coding”?

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.

lovable’s main⁣ product is an AI-powered development platform⁢ that turns natural-language prompts into full-stack web applications and websites,generating real front-end,back-end,and⁢ database code that users can run and edit.‍ The ⁢platform runs on a subscription