Lovable, a Stockholm-based AI coding platform, is nearing 8 million users, according to CEO Anton Osika. The company, founded almost exactly a year ago, has seen significant growth, with 100,000 new products being built on its platform every day. This expansion has been backed by substantial funding, with Lovable raising $228 million to date.
The rapid growth of Lovable has been fueled by its innovative approach to coding, making it accessible to a broader audience beyond traditional developers. The platform has attracted a diverse user base, including more than half of Fortune 500 companies, which use it to “supercharge creativity.” Osika highlighted the platform’s versatility, citing examples of an 11-year-old building a Facebook clone and a Swedish duo generating $700,000 annually from a startup launched on Lovable.
Lovable’s Rise to Prominence in AI Coding
Lovable’s success can be attributed to its user-friendly interface and the Swedish design sensibility, according to Osika. The platform’s ability to simplify the coding process has resonated with users, with Osika stating, “What I hear from people trying Lovable is, ‘It just works.'” This approach has enabled the company to achieve more than 100% net dollar retention, indicating that users spend more over time.
However, the company faces challenges, particularly regarding security. Osika acknowledged a recent incident where an app built with vibe coding tools leaked sensitive data. In response, Lovable has prioritized hiring security engineers and now runs multiple security checks before users can deploy their applications. The platform still requires users building sensitive applications to hire security experts.
Competition and Future Plans
Lovable operates in a competitive landscape, with AI giants like OpenAI and Anthropic releasing their own coding agents. Osika remains optimistic, viewing the market as large enough for multiple winners. He emphasized the importance of unlocking human creativity and agency, stating that the focus should be on enabling anyone to create and build businesses, regardless of who achieves it.
Osika described Lovable’s mission as building “the last piece of software,” a platform where everything a product organization needs can be done through a simple interface. The company is working towards creating an intuitive experience for users, with Osika stating that employees can now quickly prototype ideas and test them with early users before committing resources.
Addressing Concerns and Looking Ahead
As Lovable continues to grow, it faces scrutiny over its sustainability and the long-term viability of the vibe coding boom. Research from Barclays indicated a decline in traffic to some of the buzziest services, including Lovable, after peaking earlier this year. Osika remains confident in the platform’s retention rates and its ability to continue attracting new users.
With a focus on mission-driven employees and a more balanced work culture, Osika is positioning Lovable for continued success. The company’s next steps will be closely watched, particularly in terms of how it addresses security concerns and navigates the competitive AI coding landscape. As the industry evolves, Lovable’s ability to adapt and innovate will be crucial to its future growth and success.
