With the rapid development of generative artificial intelligence technology, more and more people are beginning to focus on how to use this technology to create software. However, most such platforms still require the participation of professional engineers, which is undoubtedly an insurmountable threshold for ordinary users. Swedish startup Lovable successfully broke this barrier with its unique uncoded application building platform, making it easy for anyone to create applications without any programming knowledge.
Lovable became popular on product hunter and hacker news last year, quickly attracting the attention of a large number of users. Recently, the company announced a successful financing of US$15 million, led by Creandum. This round of financing will be used to further develop its products, expand market share, and accelerate technological innovation. Lovable's rapid rise is eye-catching, with its valuation rising rapidly since last year's seed round of financing, showing market recognition of its innovation capabilities.
The biggest highlight of the Lovable platform is that it enables users to create "production-grade" software without any coding knowledge. With its GPT Engineer feature, users can easily build prototypes and websites and quickly deliver complete web applications. According to the latest data from Lovable, the platform currently has 500,000 users and generates more than 25,000 new products every day. In addition, Lovable also revealed that its annual recurring revenue has reached US$17 million, and the number of paid users has also increased to 30,000, showing its strong market potential and user stickiness.
Founder Anton Osica said Lovable differs from other AI code building platforms in that it can truly provide the effective solutions users need. Osica worked at Depict.ai before joining the founding of Lovable in 2023. Depict is a Y Combinator-backed company focused on the e-commerce sector and successfully raised $20 million in funding. Anton has a very rich background. He has been involved in the development of computer interfaces for the renowned physicist Stephen Hawking and has worked with former SpaceX engineers to develop wheelchair technology. These experiences have laid a solid foundation for him to start Lovable.
Lovable plans to further expand its integration with third-party services in the future, including database integration with Supabase and code storage with GitHub. These collaborations will further enhance the functionality and user experience of the platform, allowing users to create and manage their applications more efficiently.
"I haven't seen such a popular product since we invested in Spotify," said Frederick Cassel, a partner at Creandum. In this round, there are also many angel investors including Meta board member Charlie Songhurst, Hugging Face's Adam D'Angelo and Thomas Wolf. The addition of these investors not only brings financial support to Lovable, but also brings it rich industry resources and experience.
Lovable's success lies not only in its technological innovation, but also in its deep understanding of user needs and providing simple and easy-to-use solutions. With the continuous development of generative artificial intelligence technology, Lovable is expected to become a leader in the field of coding-free application construction in the future, bringing convenience and creativity to more users.