‘Vibe-coding’ darling Lovable’s CEO says the company is targeting enterprise customers as its ARR doubles to $200 million in just four months

Lovable determines ARR by taking the previous month’s revenue, multiplying it by 12, and annualizing the result, according to Osika.

The Swedish company, founded in 2023, has seen rapid growth since launching its AI-powered app building product in late 2024. Now, Osika is eyeing a larger enterprise customer base.

“If you look at the people who have corporate accounts, it’s like half [of customers]He said luck. “Most of them come from an individual who starts using Lovable and then brings it into the company. And then, in some cases, it grows into a larger contract across the entire company and turns into multi-million dollar deals.”

Osika describes Lovable’s mission as democratizing software engineering by leaning toward “living coding,” where the user describes in plain language the application they want to build or the function of a piece of software they want to create, and the AI ​​takes care of actually writing the code to produce that result.

Lovable’s flagship product is an AI-powered development platform that turns natural language prompts into integrated web applications and websites, creating real front-end, back-end, and database code that users can run and edit. The platform operates on a subscription model, where users can choose to pay for more advanced features. The company targets both non-technical users and developers, and provides a chat-based interface to help users create and publish applications.

“We are experiencing one of those rare moments that people will talk about for decades, and I believe we are changing the way humanity makes software,” Osika said. “Everyone becomes a developer in the future.”

Many of its users are casual builders, for example, those who use Lovable to quickly build simple tools or prototypes without learning programming. While individual users can generate revenue, the enterprise market is becoming increasingly lucrative as larger companies look to integrate AI tools into their workflow. However, it is also increasingly competitive. Lovable will compete with major players like Microsoft and Google, as well as fast-growing startups like Anthropic, which are already favorites among coders.

“We’re building for non-techies and 99% of people,” Osika said of the competition. “We’re obsessed with being simple, and so far, momentum-wise, this is working great for us.”

Lovely AI interface

The company is also expanding the features of its products, in part to become more attractive to organizations that want to use AI for things like creating their own products or making tools to manage day-to-day operations. Osika says the company is building an AI interface that will allow customers to connect, access and customize different tools.

“What we expect is that our thesis — which is to simplify all steps of product development, and the entire life cycle, from building it, hosting it, maintaining it, testing it, running experiments — will be achieved through one simple AI interface, and that’s what we’re building,” he said.

The startup, which is led by 35-year-old Osika and co-founderFabian Hedin is also bringing in senior leadership to help guide this expansion. Over the past few months, the company has hired Marian Caughey, former chief people officer at Notion and Gusto, to head people, Dropbox’s former head of growth and data, Elena Verna, to lead growth, and Meta alum Charles Guillemet to lead recruiting.