Lovable

In December 2025 Lovable closed a $330M Series B at a $6.6B valuation, led by CapitalG and Menlo Ventures’ Anthology fund. The cap table also picked up NVIDIA’s NVentures, Salesforce Ventures, Databricks Ventures, Atlassian, HubSpot, Khosla, DST, EQT Growth, Accel and Creandum. That tripled the July 2025 valuation in five months.

The ARR number is what made it possible. $100M in July, $200M in November, $250M at year-end, $300M in January, $400M in February. The company added roughly $100M of ARR in a single month. Even sceptics who think the figure leans on monthly subscriptions that have not yet seen a renewal cycle concede that the consumer pull on AI app generation is genuine.

User count was around 8M as of November 2025. The pivot now is to enterprise seats. Headcount is the part where the public reporting splits: TechCrunch’s March 2026 piece pegged the core team at 146 FTEs, while Tracxn lists 871 and RocketReach close to a thousand. The 146 figure refers to full-time staff only; the higher numbers include contractors and embedded agency partners. Either way, the Stockholm office Lovable just signed is sized for 300, with hiring kicked off in Boston, London, NYC and SF.

Founder Anton Osika has framed the product publicly as “the last piece of software” companies buy. That is the kind of claim that ages either very well or very badly. The next 12 months will tell which.

For the directory the read is simpler. Lovable is the fastest software ramp the Nordics have ever produced. Whether the ARR sticks once the first cohort of 2025 monthly subscribers cycles through renewal is the only question that matters in 2026.