With the rapid advancement of generative AI, more and more people are focusing on leveraging this technology for software creation. However, most such platforms still require the involvement of professional engineers. Swedish startup Lovable breaks this barrier with its unique no-code application building platform, enabling anyone to easily create applications.
Lovable gained popularity last year on Product Hunt and Hacker News, attracting significant user attention. Recently, the company announced a successful $15 million funding round led by Creandum. This funding will be used to further develop its product and expand its market share.
Lovable's biggest highlight is its ability to empower users to create "production-ready" software without any coding knowledge. Through its GPT engineer functionality, users can easily build prototypes and websites, and quickly deliver fully functional web applications. According to Lovable's latest data, the platform currently boasts 500,000 users, generating over 25,000 new products daily. Furthermore, Lovable revealed that its annual recurring revenue has reached $17 million, with 30,000 paying users.
Lovable's rapid rise is remarkable. Since its seed round funding of $2 million last year, its valuation has skyrocketed. Founder Anton Osika states that Lovable differentiates itself from other AI code-building platforms by truly delivering effective solutions users need.
Before co-founding Lovable in 2023, Osika worked at Depict.ai, a Y Combinator-backed company focused on e-commerce, which successfully raised $20 million. Anton's background is quite extensive; he participated in developing the computer interface for renowned physicist Stephen Hawking and collaborated with former SpaceX engineers on wheelchair technology.
Lovable plans to further expand its integration with third-party services, including database integration with Supabase and code storage collaboration with GitHub.
Creandum partner Fredrik Cassel stated, "I haven't seen a product this loved by users since we invested in Spotify." This funding round also included several angel investors, such as Meta board member Charlie Cheever, Hugging Face's Adam D'Angelo, and Thomas Wolf.
Product link: https://lovable.dev/
Key Highlights:
🌟 Lovable secures $15 million in funding to help users create software without coding.
👥 The platform currently has 500,000 users, generating 25,000 new products daily.
🚀 The founder participated in developing Stephen Hawking's computer interface, boasting a rich background.
