As Lovable hits $200M ARR, its CEO credits staying in Europe for its success

Lovable, a Swedish startup specializing in vibe coding, has achieved a remarkable milestone by doubling its annual recurring revenue (ARR) to $200 million in just four months. Co-founder and CEO Anton Osika made this announcement during the 2025 Slush technology conference held in Helsinki, Finland. This achievement comes shortly after the company surpassed the $100 million mark in ARR back in July. Osika attributes this rapid growth to Lovable’s decision to remain in Europe, despite receiving advice that relocating to Silicon Valley was essential for success. "It was tempting, but I really resisted that," he stated. He emphasized that it is indeed possible to build a global AI company from Europe, highlighting the abundance of talent available when a strong mission and collaborative effort are present. The CEO noted that the slower pace of the European AI market has actually benefitted Lovable. Investor Zhenya Loginov from Accel remarked that the company has successfully attracted talented individuals from prominent Silicon Valley firms, bringing them to Stockholm for in-person collaboration. Osika also praised the company’s open-source community, which has been vital in advancing its technology. He highlighted the ongoing discussions within the community on platforms like Discord, which have contributed significantly to Lovable's development. As Lovable celebrates this incredible achievement, the vibe coding sector continues to attract substantial venture capital. Recently, AI-coding assistant Cursor announced a substantial funding round of $2.3 billion which elevated its valuation to $29.3 billion. Since its inception just a year ago, Lovable has secured over $225 million in venture funding, including a notable $200 million Series A round led by Accel, which valued the company at $1.8 billion.