The Swedish Ki -Startup Lovable says that it only exceeded $ 100 million in the annual recurring income (ARR) just eight months after the start. This makes it the fastest software company to achieve the milestone, the historically fast growth rates of companies such as cursor And Wiz.
The rise of Lovable results from the popularity of its generative AI platform. With the system, non-technical users can create apps or websites based on simple text requirements.
The platform is the idea of Anton Osika, which was lovable in 2023.
“I decided that we had to create for the 99% that do not create software,” he told TNW in April.
The 💜 the EU technology
The latest rumors from the EU -Tech scene, a story of our wise old founder Boris and some questionable KI art. It is free of charge every week in your inbox. Register now!
By enabling non -technical founders to found successful companies without prior coding or software area, Osika believes that the company “unlock a new economy”.
Lovable has now reached over 2.3 million active users and has built up more than 10 million projects on its platform. According to the company, more than 100,000 new projects are created every day.
Last week, Lovable announced a round of $ 200 million by accel with one round of accel. The financing rated the startup at USD 1.8 billion and is one of the largest rounds of Serie A that has ever been applied by a European company.
Lovelable has also announced that it is now “completely agent” and gives the platform the opportunity to “think through problems, create plans and to take action as a real developer”. The upgrade enables the web to search the web for content, debugg code and edit applications with a complete context – all without human intervention.
The company has also launched a business plan that offers “security, privacy and control of company quality”, which contains functions such as reusable templates, self-service SSO, private projects and data opt-out. Early customers include Klarna, Hubspot and photoroom.
“Despite our quick growth, we still start to understand what this means for people and companies all over the world,” said Osika in an explanation. “AI enables the potential that people build easily, create new companies with unprecedented speed and have a positive effect on the world.”
