Lovable Nears 8 Million Users as It Expands Corporate Focus

Stockholm-based AI coding platform Lovable is nearing 8 million users, marking rapid growth from 2.3 million active users reported in July. CEO Anton Osika said the platform now sees about 100,000 new products built daily. Founded in late 2023, the company has raised $228 million to date, including a $200 million round this summer that valued it at $1.8 billion. Some investors have reportedly discussed potential valuations as high as $5 billion, though Osika stated the company is not currently seeking new funding.

Lovable reached $100 million in annual recurring revenue in June and recently surpassed 100 employees. Despite a reported decline in web traffic of around 40% since September, Osika said user retention remains strong, with more than 100% net dollar retention, indicating users are increasing their spending over time. The company is also expanding its leadership team with hires from San Francisco to support its Stockholm headquarters.

The platform, which evolved from an open-source tool built by Osika, allows users to create apps and websites through natural language prompts rather than traditional coding. More than half of Fortune 500 companies now use Lovable, alongside a wide range of individual users — from students to entrepreneurs — building products and small businesses on the platform.

Security has become a key focus for Lovable following incidents within the broader “vibe coding” sector involving data leaks. Osika said the company is increasing its security engineering staff and has implemented multiple automated checks before deployment. He noted that users developing sensitive applications are still advised to work with security experts.

Osika described Lovable as aiming to become a complete software creation platform, enabling teams to design, test, and deploy products through a single interface. While competition from major AI developers like OpenAI and Anthropic is increasing, Osika said he sees room for multiple companies in the space and remains focused on improving the user experience.