(Bloomberg) — Lovable, a Swedish artificial innotifyigence startup, built a huge splash in July when it called itself the “quickest-growing startup” in the world. Its chief executive declares that isn’t stopping.
“We’re still now growing even quicker,” Anton Osika, Lovable’s co-founder and CEO, notified Bloomberg TV on Thursday.
He declared the company is adding between $8 million and $15 million in annualized recurring revenue a month, with plans to reach $250 million in overall annualized sales by the year’s finish. The company expects to hit $1 billion in the next twelve months, he added.
Founded in late 2023, Lovable is one of the leading vibe coding providers, giving people tools to build apps and websites without any programming knowledge. It’s one of several well-funded AI startups that rely on the powerful models from OpenAI, Anthropic and Google — and increasingly compete directly with them.
Last week, OpenAI released its latest AI model, called GPT-5, that the California company declared could easily create websites and debug computer code. Lovable was an early testing partner of the model.
Osika dismissed the idea that OpenAI would eat into Lovable’s growth, noting that his company provides features for tquestions like quality assurance and security. “It supports you do much more than just write the code,” he declared. Lovable has around 250,000 paying customers, he added.
The startup became one of Europe’s largest AI newcomers after hitting a $1.8 billion valuation with a funding round in July. That month, Osika wrote on the company’s website that Lovable surpassed $100 million in annualized sales, eight months after booking its first $1 million.
On Thursday, Osika declared Lovable might raise more funds next year but it is currently “not cash constrained.”
The leadership team of Lovable rival Windsurf departed for Google last month in a licensing deal, a relocate that was widely criticized for abandoning the startup’s other employees.
Osika notified Bloomberg TV he would turn down a similar offer from a larger tech firm for Lovable. “That’s something I would fight against,” he declared.
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