Swedish vibe coding unicorn Lovable has achieved a remarkable milestone, doubling its annual recurring revenue (ARR) to $200 million in just four months. Co-founder and CEO Anton Osika announced this achievement at the Slush technology conference in Helsinki, Finland in 2025.

This milestone follows closely on the heels of their previous success, as the company surpassed $100 million in ARR only four months prior in July, showcasing the rapid growth and adoption of their AI-assisted coding software.

The European Advantage: A Strategic Decision

Osika attributes Lovable’s success to its strategic decision to remain in Europe, resisting the common advice to relocate to Silicon Valley. He emphasized that staying in Europe has been a crucial factor in their rapid growth.

“It was tempting, but I really resisted that,” Osika stated. “I [can] sit here now and say, ‘look, guys, you can build a global AI company from this country’. There is more available talent if you have a strong mission, and you have a lot of urgency coming together as a group and working.” This highlights the availability of talent and the power of a focused mission within the European tech ecosystem.

Osika further explained that the less frenetic pace of the AI market in Europe, compared to Silicon Valley, has worked in their favor, allowing them to build a solid foundation and strategy.

Flipping the Script

Investor Zhenya Loginov, a partner at Accel, noted that Lovable “flipped the script” by attracting top talent from Silicon Valley companies like Notion and Gusto to work in-person in Stockholm. This influx of experienced professionals has undoubtedly contributed to Lovable’s success.

Osika also acknowledged the crucial role of Lovable’s open-source community in continuously improving their technology. This collaborative approach has fostered innovation and helped refine their offerings.

“We just see all of these people in the community driving forward,” Osika explained. “They’ve been active voices on Discord for, I think, the last 1,000 hours, debating some kind of WordPress operation. That was powering what we’re doing.”

Vibe Coding’s Rise and Lovable’s Funding

Lovable’s success mirrors the broader trend of vibe coding, which continues to attract significant venture capital and user engagement. Cursor, another AI-coding assistant, recently raised $2.3 billion, valuing the company at $29.3 billion, in a round that Accel also helped lead.

Lovable has secured over $225 million in venture funding since its inception a year ago. The startup’s most recent funding round, a $200 million Series A round led by Accel and more than 20 other investors, valued the company at $1.8 billion.