Stockholm-based ‘vibe coding’ firm Lovable today announced its long rumored Series A round. In the end the Series A came in at $200 million at $1.8 billion and was led by Accel.
It is a high valuation, but that can be expected when one goes from basically zero to $75 million in ARR in about eight months (the company was founded in the fall of 2023 so it took about a year to build a version of the product that took off faster than almost any other company, or allegedly faster than any other European company).
Given how fast Lovable is growing, one can argue that in a great or even good outcome scenario it is not a crazy high valuation. The challenge for the team is to keep executing in a market where there’s a few bigger competitors and plenty smaller ones plus the ongoing risk of vertical integration from the LLMs (which could be a trigger for acquisition offers).
ByFounders, the Danish-Swedish early-stage investor, has shared a collection of photos and a timeline since they invested in the pre-seed round in 2023.