Lovable
Revenue
~$400M ARR
European record
Audience
Millions of projects generated
Launched
Late 2024
01Started from
Where it started
Swedish engineer, formerly at CERN, behind the open-source project gpt-engineer.
- Tech level
- Experienced engineer
- Starting money
- Not disclosed (open source, then VC)
- How it was built
- Co-founded with Fabian Hedin; growth driven by the community and by the product itself.
- Funding
- $200M Series A (Accel, July 2025, $1.8B valuation), then $330M Series B (CapitalG + Menlo, Dec. 2025, $6.6B).
- Tools
- LLMsproduct engineering
02Journey
The journey
Before Lovable
gpt-engineer
The ex-CERN engineer starts with an open-source project, gpt-engineer.
Late 2024
Lovable launches
Lovable turns a plain-language description into a working web product. It reaches $4M ARR in 4 weeks.
July 2025
Series A
$200M Series A led by Accel, at a $1.8B valuation.
Dec. 2025
Series B
$330M Series B (CapitalG + Menlo) at $6.6B, after passing $100M ARR in under a year.
Early 2026
European record
Lovable reaches ~$400M ARR, a European record.
03Lessons
What you can take from it
- 01
An open-source version can build a community before you have anything to sell.
- 02
You don't need Silicon Valley: Lovable was built from Stockholm.
- 03
Aim at the 99% who don't code: the biggest audience is the one tools usually ignore.
“You can build a global AI company from this country.”
Figures come from public sources (press, the founders’ own posts) and are sometimes self-reported.
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