Swedish vibe-coding unicorn Lovable has doubled its annual recurring revenue (ARR) to $200 million in just four months, co-founder and CEO Anton Osika said on stage at technology conference Slush 2025 in Helsinki, Finland.
The milestone comes just four months after the one-year-old company surpassed $100 million in ARR in July.
Osika credited the AI-assisted coding software maker’s decision not to relocate to Silicon Valley as a key reason for its success so far. Osika said LaBable decided to remain in Europe despite receiving a lot of early advice that the company would only succeed if it left the region and relocated to the United States.
“It was tempting, but I really resisted it,” Osika said. “I [can] You can sit here right now and say, “Look, guys, you can build a global AI company out of this country.” If you have a strong mission and an urgency to work together as a group, there will be more talent available. ”
He added that the fact that Europe’s AI market is not as fast-paced as Silicon Valley’s is working in the company’s favor.
Accel partner and investor Zhenya Loginov said the company has “upended the scenario” by bringing top talent from Silicon Valley companies like Notion and Gusto to work directly in Stockholm.
Osika also acknowledged that the company’s open source community continues to improve the technology.
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“We just see everyone in the community moving forward,” Osika said. “They’ve been active on Discord for probably the last 1,000 hours discussing WordPress operations, and that’s been the driving force behind what we’re doing.”
Lovable’s milestone comes as Vibecoding continues to swallow up venture capital and skyrockets in popularity among users. Last week, AI coding assistant Cursor announced it had raised $2.3 billion in a new funding round that values the company at $29.3 billion and was also led by Accel.
Lovable has raised more than $225 million in venture funding since its founding a year ago. The startup recently raised a $200 million Series A round in July led by Accel, along with more than 20 other investors. This round valued the company at $1.8 billion.
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