Sweden’s Lovable, an AI platform that makes it easy to create apps, has raised $15 million in a pre-Series A funding round. The round was led by Creandum. Lovable got a lot of attention last year on Product Hunt and Hacker News.
It lets users without coding skills make software that is ready to use. This includes prototypes, websites, and web apps that work fully. It does this using its GPT Engineer.
The platform has 500,000 users who are making over 25,000 new products every day. Lovable says it has $17 million in annual recurring revenue and 30,000 paying customers. It grew quickly with just $2 million from a €6.8 million pre-seed round in October.
Creandum leads $15M pre-Series A
Hummingbird Ventures and byFounders led that round. Founder Anton Osika said Lovable is different from other AI code-building platforms.
It makes software that is reliable and works well. The platform uses AI from OpenAI, Google Gemini, and Anthropic. Osika started Lovable with engineer Fabian Hedin.
He got the idea while working on Depict.ai in 2023. Depict.ai uses machine learning for e-commerce and got $20 million in investments. Osika also helped make Stephen Hawking’s computer interface and worked with ex-SpaceX engineers on wheelchair technology. “I realized there was something larger I could do, giving the 99% of the population who don’t know how to code access to a software engineer through AI,” Osika said.
Lovable wants to work more with services like Supabase for databases and GitHub for storing code. Fredrik Cassel from Creandum said, “I haven’t seen this level of user love for a product since we invested in Spotify.”
Visionaries Club and angel investors like Charlie Songhurst, Adam D’Angelo, Thomas Wolf, and Eric Bernhardsson also took part in the funding round.
Image Credits: Photo by Ryan Faulkner-Hogg on Unsplash
Noah Nguyen is a multi-talented developer who brings a unique perspective to his craft. Initially a creative writing professor, he turned to Dev work for the ability to work remotely. He now lives in Seattle, spending time hiking and drinking craft beer with his fiancee.
