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

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

Along with Cursor, Mercor and others, Lovable is part of a wave of tools that make it easier to build websites and apps using natural language, a practice known as vibe coding. That initially appealed to individuals and startups, but the three-year-old company is pushing hard to secure enterprise customers, which already include Klarna, HubSpot and others.

The Lovable brand’s first campaign, “Earwormwhich began airing this week across social media platforms, YouTube and connected TV, continues to speak to mainstream users. The film follows a woman who can’t get rid of a song — performed by a Swedish band Boko Yout — until finally opening Lovable and building it into a working app. The creative team behind the campaign created the band app featured in the film using Lovable itself as a working, live product, in fact. “The purpose of this brand campaign is to inspire the next generation of makers – non-technical people with great ideas that deserve to be brought to life,” a spokesperson told TechCrunch.

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

More than half of Fortune 500 companies use Lovable to “supercharge creativity,” co-founder and CEO Anton Osika said at Web Summit last November. The company has added a number of proprietary features—often security-related—to convince businesses to use it for more than prototyping and to keep them from becoming obsolete over time.

Revealing ever-increasing ARR numbers is also a way for the company to show that its success is not fading. It was mentioned earlier $100M ARR last July, $200 million last November, and 300 million dollars in January, suggesting that its revenue growth has accelerated in recent months despite the rise of AI coding tools from major AI labs like Anthropic and OpenAI.

Neither Claude Code nor Codex is a vibe coding platform, and the idea that they could build full apps in the same way might 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 metrics offer some support for that confidence.

Its most recent increase in users was tied 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’ve seen a number of records being set,” the company told TechCrunch. “One thing 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 [approximately] 200,000)”.

Also notable is the fact that Lovable achieved $400 million in ARR with only 146 full-time employees, as chief revenue officer Ryan Meadows he told Business Insider. The company is now planning to increase its headcount — and there’s room for it. His recently opened space in Stockholm has space for 300 peopleand the company also hires in Boston, London, New York, San Francisco and remotely.

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