Eight months later, Swedish Unicorn Lovely Crosses a $100 million milestone

Less than a week has passed since becoming the latest unicorn in Europe, Swedish atmosphere coding startup Lovable is still a centaur.

Lovable only took eight months from its launch to arrive here thanks to the burgeoning popularity of AI-powered websites and App Builder. The startup claims it currently has over 2.3 million active users, and last reported 180,000 paid subscribers.

With only 45 full-time employees and 14 open positions on the career page, the employee-to-revenue ratio is impressive.

Although subscriptions seem to drive a large portion of Lovable’s revenue, the company does not prioritize sales at any cost. Shortly after Lovable said it had hit $75 million in June, CEO Anton Osika wrote that Lovable “lost $1.5 million in Arr in a day” as Lovable moved everyone in his team tier to a cheaper Protia.

Team plans are now being replaced by the business tier between Pro and Custom Enterprise products. The new plan offers business-centric features such as self-service, single sign-on (SSO), templates, private projects that are not visible to the entire team, and the option to opt out of using data for training.

Lovable already has a lot of large customers like Klarna, Hubspot, Photoroom, and more, but there are still notable barriers and concerns when it comes to coding the atmosphere between companies with big money. This new layer will help you find adorable intermediary cases and drive more companies to use tools more than prototyping.

This is one focus for the company, and Osika recently said that the company is driving significant revenue from projects built with Lovable.

According to the startup, more than 10 million projects have created adorable projects so far.

Especially in Europe, the $100 million ARR club isn’t that big, but it’s growing thanks to the Tailwinds from everything in AI. In April, NVIDIA-backed B2B AI video platform Synthesia also surpassed that milestone.