AI coding tools started gaining attention because they could help developers write software faster. But as these tools have become easier to use, a growing number of people with little or no coding experience are now using them to build websites, apps, and entire businesses.
Lovable is becoming one of the clearest examples of how much money is now moving into that market.
The Swedish AI startup has crossed $600 million in annualised revenue, up from about $500 million in June. Co-founder Fabian Hedin recently revealed this figure at the HumanX summit in Amsterdam, where he also said the company has been putting more attention into growing its enterprise business.
For Lovable, reaching this level less than two years after it launched its platform shows how quickly demand for AI-generated software has grown.
Lovable Is Finding Its Way Into Large Companies
Lovable allows users to describe the software they want in everyday language while its AI handles much of the coding required to build it.
And this type of software development has become widely known as vibe coding. What began largely as a way for individuals and small teams to quickly create prototypes is now gaining ground inside much larger companies.
Hedin said people at about two-thirds of Fortune 500 companies are already using Lovable, while Microsoft, Nvidia, and Deutsche Telekom are among its customers. Additionally, the scale of what those users are building is also growing, as pps created through Lovable now receive close to one billion visits every month, according to Hedin.
In June, the company said more than 50 million projects had already been created with Lovable, with users building around one million new projects every week. This figure has since passed 70 million projects.
Lovable Wants to Be More Than an AI Coding Tool
The fact that the business is growing is also influencing what Lovable is building.
Hedin argues that competing tools such as OpenAI’s Codex and Anthropic’s Claude Code largely focus on producing code, while Lovable is trying to manage more of what happens after that code is generated, including hosting, deployment, and scaling.
The company has also been adding features aimed at organisations that need tighter control over software built by employees. In recent months, Lovable has introduced more security and workspace controls and announced integrations with Salesforce and Microsoft. This is because its Microsoft partnership allows companies to run apps built with Lovable inside their existing Microsoft environments while keeping their normal sign-in and IT controls.
Investors Are Following the Growth
Lovable’s rapid revenue growth has also pushed its valuation higher.
The startup raised $400 million in August at a $13.3 billion valuation, led by Menlo Ventures and co-led by the Scaleup Europe Fund. This came only months after an earlier funding round valued the company at $6.6 billion.
As such, the bigger story behind the $600 million revenue run rate is how quickly vibe coding is becoming a serious software business. Lovable is increasingly making money not only from people experimenting with AI-generated apps, but from a market where employees are building software that companies may eventually depend on for everyday work.
However, this shift also raises the stakes. As more of those apps move from experiments into working businesses and company systems, Lovable will have to prove that software created this quickly can also meet the security and reliability standards companies expect.
