Swedish AI startup Lovable, a platform that lets users build apps and websites using plain language, has secured $200M (approximately €172M) at $1.8B valuation in a Series A round led by Accel.
Existing investors, including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club, also participated in the round, reports TechCrunch.
The Swedish company will use the funds to scale its operations and improve its tools from a prototyping to a full-fledged platform for building production-grade software.
Earlier this year, the Swedish company raised €14.29M in a pre-Series A funding round led by Creandum
Since its launch in 2024, the platform has attracted more than 2.3 million active users.
While most currently use the product for free, the startup has already converted over 180,000 users into paying subscribers, reaching $75M in annual recurring revenue (ARR) within just seven months.
Lovable: Building software that builds software
Lovable offers a versatile AI-powered platform beyond traditional no-code tools, enabling users to create everything from basic websites to complex business applications like interactive dashboards, automation systems, and even full startups, all within a single platform.
It allows non-technical users to build software without coding while helping developers work up to 20 times faster than conventional methods.
At present, the startup operates with just 45 full-time employees. A Brazilian edtech company recently made $3M in 48 hours from an app built with its platform, claims the company.
The company has also signed major clients like Klarna and HubSpot.
Lovable credits its growth to the platform’s ease of use, allowing a wider range of users, including non-developers like entrepreneurs, designers, and business professionals, to create software, broadening its appeal beyond traditional tech experts
