Lovable says it added $100M in revenue last month alone, with just 146 employees

Sweet In February, the Stockholm company surpassed $400 million in annual recurring revenue, the company confirmed to TechCrunch. But it declined to say whether it still expects to reach $1 billion ARR by the end of the year, saying it is focused on “helping builders scale their impact with our platform.”

Alongside Cursor, Mercor and others, Lovable is part of a wave of tools that make it easier to create websites and apps using natural language, a practice known as vibe coding. This initially resonated with individuals and startups, but the three-year-old company has worked hard to acquire enterprise customers, which already includes Klarna, HubSpot and others.

Lovable’s debut brand campaign: “Earwig”, which started playing on social platforms, YouTube and connected TV this week, is still appealing to mainstream users. The film follows a woman who can’t rid herself of a song – performed by a Swedish band Boko Yout – until she finally opens Lovable and turns it into a working app. The creative team behind the campaign built the band app featured in the film, using Lovable itself as a functional, live product. “The goal of this brand campaign is to inspire the next generation of builders – non-technical people with great ideas that deserve to come to life,” a spokesperson told TechCrunch.

That overarching message is one of the factors that has helped Lovable attract about 8 million users and become a unicorn in less than a year after launch. But the prospect that it could also secure corporate dollars likely played a key role in pushing the valuation to $6.6 billion.

More than half of Fortune 500 companies use Lovable to boost creativity, co-founder and CEO Anton Osika said at the Web Summit last November. The company has added a range of special features – often related to security – to convince companies to use it for more than just prototyping and avoid canceling over time.

Releasing higher and higher ARR numbers is also a way for the company to show that its success is not fading. It had reported that earlier $100 million ARR last July, $200 million last November, and $300 million in January, indicating that revenue growth has accelerated in recent months despite the rise of AI coding tools from major AI labs such as Anthropic and OpenAI.

Neither Claude Code nor Codex is a vibe coding platform, and the idea that they could make entire apps so seamless may be overstated, but their parent companies may eventually decide to compete with Lovable, which is built on top of their models. However, Osika has shown little concern and the company’s latest usage statistics provide some support for that confidence.

The most recent user spike was related to a specific promotion: Lovable’s SheBuilds initiative for International Women’s Day on March 8, when the entire platform was free for one day. “We saw several records set,” the company told TechCrunch. “What we’re most proud of is that over 500,000 projects were built or updated on Lovable that day (compared to a typical daily average of [approximately] 200,000).”

Also notable is the fact that Lovable achieved $400 million ARR with just 146 full-time employees, as Chief Revenue Officer Ryan Meadows said. told Business Insider. The company now plans to expand its workforce – and there is room to do so. The recently inaugurated space in Stockholm has done just that space for 300 peopleand the company is also hiring in Boston, London, New York, San Francisco and remotely.

Even the bill for this 70 open vacanciesLovable’s revenue-to-employee ratio is likely to remain well above industry norms. Research firm Gartner’s predicts that a new wave of unicorns will emerge by 2030 with an ARR of $2 million per employee. With $2.77 million in ARR per employee, Lovable has already surpassed that number.