AI app-building platform Lovable has reported a sharp rise in revenue, adding $100 mn in annual recurring revenue (ARR) in a single month. The Stockholm-based company confirmed that it crossed $400 mn ARR in February.
Despite the rapid growth, the company declined to confirm whether it still expects to reach $1 bn ARR by the end of the year. It said its primary focus remains on “helping builders scale their impact with our platform.”
Lovable is part of a new wave of platforms that allow users to build websites and applications using natural language prompts, a practice known as vibe coding. Alongside companies such as Cursor and Mercor, the platform has gained popularity among individuals and startups before expanding into enterprise markets.
The company said its enterprise clients already include firms such as Klarna and HubSpot. Lovable has also introduced additional features, particularly security-related capabilities, to encourage businesses to move beyond experimentation and continue using the platform over time.
Lovable recently launched its first brand campaign titled “Earworm,” which is being promoted across social media platforms, YouTube and connected television. The campaign features a storyline about a woman who cannot stop thinking about a song until she uses Lovable to build the concept into a functioning app. The creative team behind the campaign also built the band application shown in the film using Lovable itself.
A spokesperson said, “The purpose of this brand campaign is to inspire the next generation of builders — non-technical people with great ideas that deserve to come to life.”
The company’s growth has been driven by strong user adoption. Lovable said it now has around 8 mn users and reached unicorn status less than a year after launching. Its valuation has reportedly climbed to about $6.6 bn.
Revenue growth has accelerated in recent months. The company previously reported $100 mn ARR in July, $200 mn in November and $300 mn in January, indicating strong momentum even as AI coding tools from major technology companies continue to emerge.
Lovable also saw a surge in platform activity during its SheBuilds initiative for International Women’s Day on March 8, when the platform was made free for one day. More than 500,000 projects were created or updated on the platform that day, compared with a typical daily average of about 200,000.
The company reached $400 mn ARR with just 146 full-time employees. Lovable now plans to expand its workforce and is hiring across several locations including Stockholm, Boston, London, New York and San Francisco, as well as remote roles.
Even with planned hiring, Lovable’s revenue-to-employee ratio remains significantly above industry averages. At about $2.77 mn ARR per employee, the company has already surpassed a level that research firm Gartner predicts many unicorn startups may reach by 2030.
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