Swedish artificial intelligence software development startup Lovable Labs Inc. today announced it has raised $200 million in an early-stage round that values the company at $1.8 billion.
Founded in 2023, the company’s product allows software developers to prototype and build websites and apps rapidly using a method called “vibe coding.” That’s an AI-assisted development approach where developers use natural language to instruct AI tools to generate, refine and debug code. It emphasizes fast, improvisational and iterative experimentation that relies heavily on AI for code completion.
Accel led the Series A round. The company’s existing investors, 20VC, ByFounders, Creandum, Hummingbird and Visionaries Club, also participated in the round. It comes just six months after the company raised $15 million in pre-Series A funding in February.
In a recent talk, Lovable’s Chief Executive Anton Osika said the company now exceeds 180,000 paying subscribers and reached annual recurring revenues of $75 million in seven months.
The company provides numerous tools for developers, with a focus on non-technical users, providing them with everything they need to go from idea to working application quickly. The company’s website tagline is “Build something Lovable.”
A user needs only start by typing an idea into the website’s chatbox to begin their journey, which can also take uploads of images, documents, flowcharts and more. Slightly more technical users can also import their work from Figma, a cloud-based design and prototyping tool for creating user interfaces and user experiences, to provide the AI tool with a framework to build the logic behind their application.
Apps built by the community can be developed privately or displayed publicly. This allows other users to borrow, remix and reuse the code generated in those projects in their work. Some examples include a Quick Response code generator, an invoice template generator and the “Engine Arcade” that can create video games from just a prompt.
Lovable also recently launched an agentic AI capability in beta mode at the tail end of June. Agent Mode allows Lovable to think, plan and take actions automatically on behalf of the user, meaning that the user can provide a full specification document of their intent for the application and let Lovable build parts of their project.
Its part of a new series of capabilities that will search the codebase of the user to extract files, functions and components to use, read files to understand app structure, inspect logs and debug errors on its own and run web searches to fetch documentation, content and images – and even edit them on demand. Lovable said that it will essentially act like a software developer.
Currently, Agent Mode can be used for simple requests, such as writing straightforward functions for projects, or more complex requests, such as building complex features, all without needing a lot of interactivity or hand-holding.
Image: Lovable Labs
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