How Stockholm startup Lovable grew to a $6.6 billion valuation in 2 years

What is Lovable and vibe coding

Lovable is a platform that allows you to create applications and websites without knowing how to code. The user describes the task in plain language, and artificial intelligence generates ready-to-use code. This approach is called vibe coding — it relies on intuitive prompts and dialogue with AI instead of manual code writing.

Previously, creating an application required a team of developers. Now, a product manager or startup founder without a technical background can handle this.

Where the company is from and who is behind it

Lovable was founded in Stockholm in 2023. The company is led by CEO Anton Osika, who has a physics background and previously worked at CERN, having also served as a founding engineer for two startups in Stockholm.

Osika consciously kept the company in Sweden, despite pressure from investors urging him to move to Silicon Valley. According to him, Stockholm is a less saturated technology hub, which provides an advantage in hiring strong specialists. At the same time, he acknowledges that the mindset in Europe needs to change — it is possible to build companies of global scale there as well.

As a participant in Founders Pledge — a global community of entrepreneurs committed to social goals — Osika pledged to donate 50% of his future income to charity.

How the numbers grew

Since its founding, Lovable has gained over half a million subscribers. The company crossed the $100 million annual revenue mark by July 2025 and reached $200 million four months later. By February 2026, revenue had grown to $400 million per year — with $100 million of that added in a single month, while the company had only 146 employees on its payroll.

Who invested

In July 2025, Lovable raised $200 million in a Series A round led by Accel at a valuation of $1.8 billion. In December of the same year, a Series B round of $330 million followed, led by CapitalG and Menlo Ventures. During this period, the company’s valuation more than tripled — reaching $6.6 billion. Thus, Lovable became one of the last European unicorns.

Who uses the platform

The platform is used by both individual users without technical backgrounds and large corporate clients — including Uber, HCA Healthcare, Klarna, and Zendesk. According to the company, more than half of the companies on the Fortune 500 list use the product in some form.

The deal with Google

In June 2026, Lovable and Google announced an extended multi-year partnership. The deal involves a fivefold increase in Lovable’s presence on Google Cloud, expanded access to Anthropic’s Claude models and Google’s Gemini models.

The Lovable agent will appear in Google’s corporate marketplace — the Gemini Enterprise Agent Gallery. Additionally, code protection will be integrated through Wiz, Google’s largest acquisition for $32 billion.

Security incident

The company’s path was not without difficulties. In April 2026, a security incident occurred: unauthorized access to user data was reported.

Initially, unclear communication about the scale of the issue and the fix triggered a wave of criticism online — including criticism of the concept of creating code using AI. The company promptly released a fix and publicly acknowledged that it could have handled the situation better.