Lovable: AI-Powered App Building for Everyone

Company & Team Introduction

Founded: 2023, Stockholm, Sweden
Mission: Democratize software development by enabling anyone to build applications using natural language—no code required.

Founders:

Anton Osika (CEO): Began coding at 12 and co-founded the Stockholm AI community. Previously the first technical hire at Sana Labs, where he developed award-winning AI algorithms, and later co-founded Depict.ai, a YC-backed AI startup that raised over $20M.

Fabian Hedin (Co-Founder): Serial innovator with a background in assistive tech. Sold a proptech startup in high school, developed communication interfaces for Stephen Hawking, and worked with ex-SpaceX engineers on advanced mobility devices.

Team: A 30-person team combining AI researchers, full-stack engineers, and product designers—many with prior experience at unicorn startups—focused on redefining app development through AI.

Product Overview

Lovable.dev is an AI-powered platform that allows users to build and deploy full-stack web applications using natural language, eliminating the need for coding expertise:

• Natural Language to Application: Converts plain-English descriptions into production-ready software, covering backend logic, frontend UI, and deployment infrastructure.

• AI-Powered Iteration Engine: Users can refine or expand their apps by chatting with an assistant that instantly regenerates and redeploys changes.

• End-to-End Development Stack: Automatically handles authentication, databases, and CI/CD pipelines—delivering apps ready for real-world use without writing a single line of code.

Lovable.dev is especially valuable for product teams, entrepreneurs, and enterprise professionals across various industries, including fintech and healthcare, enabling faster prototyping and software delivery through conversational development.

Market Opportunity

Lovable.dev operates at the intersection of two rapidly expanding markets: low-code/no-code development platforms and AI-driven software development. These sectors are experiencing significant growth, driven by the demand for rapid application development and the integration of AI into software solutions.

Low-Code/No-Code Development Platforms:

• The global low-code and no-code platform market is projected to grow from $32 billion in 2024 to $207.25 billion by 2032, exhibiting a CAGR of 26.1% .

• Gartner predicts that by 2024, low-code application development will account for over 65% of all application development activity, up from less than 25% in 2020 .

AI-Driven Software Development:

• The global AI software market is expected to grow from $257.37 billion in 2025 to $1,458.89 billion by 2034, with a CAGR of 21.43% .

• The software development AI market is projected to increase from $0.45 billion in 2024 to $0.56 billion in 2025, growing to $1.34 billion by 2029 at a CAGR of 24.3%.

Lovable.dev is well-positioned to capitalize on these trends by offering a platform that combines the ease of low-code/no-code development with the power of AI, addressing the needs of businesses seeking rapid, efficient, and intelligent software solutions.

Business Model & Traction

Business Model & Traction

Lovable.dev operates on a tiered subscription-based SaaS model, offering plans that cater to a diverse user base, from individual developers to large enterprises. This approach has facilitated rapid adoption and significant revenue growth.

Subscription Plans:

• Free Plan: $0/month

  • Limited features suitable for getting started.

• Pro Plan: $25/month

  • Includes 100 credits/month, private projects, custom domains, and support for up to 3 editors per project.

• Teams Plan: $30/month

  • Offers centralized billing and access management, including 20 seats.

• Enterprise Plan: Custom pricing

  • Provides dedicated support, single sign-on (SSO), and options to opt out of data training.

This flexible pricing structure allows users to select a plan that best fits their needs, promoting scalability and user retention.

Traction Highlights:

• Annual Recurring Revenue (ARR): Achieved $17 million within three months of launch.

• Paying Customers: 30,000 within the first three months.

• User Base: Over 500,000 users, with 25,000 apps being built on the platform daily.

Lovable.dev's rapid growth and strong market presence underscore its effective business model and the high demand for AI-powered, no-code development platforms.

Competitors

Lovable.dev operates in the rapidly evolving landscape of AI-powered, low-code/no-code application development. Several platforms offer similar capabilities, catering to various user needs and technical proficiencies. Here's an overview of notable competitors:

1. Bolt.new
An AI-driven development agent that enables users to build, edit, run, and deploy full-stack applications directly from their browser without local setup. It provides complete control over the development environment, making web development seamless.

2. v0.dev
A platform that allows users to generate UI components from text prompts, streamlining the design-to-code process. It focuses on rapid prototyping and integrates with various design tools.

3. GitHub Copilot
An AI pair programmer that uses the OpenAI Codex to suggest code and entire functions in real-time, enhancing developer productivity.

4. Uizard
A rapid, AI-powered design tool for creating wireframes, mockups, and prototypes in minutes. It transforms hand-drawn sketches into digital designs and is suitable for users without design experience.

5. AppyPie
A no-code development platform that allows users to create mobile applications, websites, chatbots, and automated workflows without traditional programming. It primarily serves small and mid-sized businesses, startups, and entrepreneurs.

While Lovable.dev distinguishes itself with its natural language interface and AI-driven full-stack development capabilities, these competitors offer alternative approaches to rapid application development, catering to a broad spectrum of users and project requirements.

Funding

Lovable has raised €21.1 million across two funding rounds, backed by top-tier European VCs and influential angels in the tech ecosystem.

• Pre-Seed Round (Oct 7, 2024): €6.8M

  • Lead Investors: byFounders, Hummingbird Ventures

  • Notable Angels: Stefan Lindeberg, Fredrik Hjelm, Bjarke Staun-Olsen

• Seed Round (Feb 25, 2025): €14.3M

  • Lead Investor: Creandum

  • Co-Investors: Visionaries Club, Emblem, Antler

  • Notable Angels: Christian Reber, Thomas Wolf, Charlie Songhurst, Adam D’Angel