As interest in “vibe coding” spreads rapidly, so is the footprint of Lovable, a Swedish startup known for its A.I. coding tools for non-technical users. After raising $330 million at a $6.6 billion valuation last December, the company opened its first U.S. office in Boston earlier this year—and brought over corporate traditions from its Stockholm headquarters, including a no-shoes-in-the-office policy.
The office norm isn’t an issue for Ryan Meadows, Lovable’s chief revenue officer, who joined last October and has previously lived in Japan, where removing shoes indoors is customary. (Those uncomfortable with the policy are given Lovable-branded slippers.)
Also welcomed by Meadows, who reports directly to Lovable co-founder and CEO Anton Osika and oversees a go-to-market (GTM) team of 35, is the startup’s rapid progress. Behind the “explosive growth”—Lovable reported annual recurring revenue of $400 million in March, a 30 percent jump from the prior month—is evidence of “pent-up demand” for the company’s services, Meadows told Observer. He pointed to a rise in projects built with Lovable, increased traffic to Lovable-created apps and websites, and plans to expand the company’s global footprint and headcount.
Before becoming an employee, Meadows was already a customer. He had been experimenting with Lovable’s tools when the company first approached him about the role, a coincidence he described as “serendipitous.” He joined after six years as senior vice president of global sales at marketing platform Klaviyo, and seven years in sales leadership and general manager roles at software company HubSpot.
Lovable has continued to scale in the eight months since Meadows joined. More than 40 million projects have been built on the platform to date, with roughly 200,000 new ones created each day, Meadows said. Lovable-built apps and sites now receive over 600 million monthly visits—double the figure in January.
Founded in 2024 by Swedish entrepreneurs Osika and Fabian Hedin, Lovable is among the companies that have made coding with natural language, so-called “vibe coding,” the hottest new trend in A.I. Frontier firms such as Anthropic and OpenAI have also been expanding into the coding space.
Lovable, which uses frontier models to power its products, differentiates itself by focusing on “non-technical people,” ensuring that even users with little to no coding experience can build applications, websites, or agents, Meadow said. “We’re not just focused on getting developers to be ’10x developers.’”
As he travels to meet customers, Meadows has found that non-technical employees are still underutilizing A.I. “If you’re not a developer, what have you really been given for A.I.? Most people have a chatbot, maybe some people have built an agent—most people haven’t,” he said.
Today, Lovable serves a mix of individual users and enterprise clients, including Uber, Microsoft, and ElevenLabs. Like its larger rivals, the company is “leaning into” enterprise customers for future growth, Meadows added.
Beyond revenue, Meadows is focused on what users are building—and whether those products succeed. One customer, real estate brokerage eXP Realty, has replaced more than $2 million worth of legacy software with Lovable-built applications, including a website CMS and an internal chat tool.
Sweden charges ahead in A.I.
Sweden has long punched above its weight in startup creation, and it’s continuing that trend in the A.I. era. The country, which has the highest concentration of unicorns per capita outside of Silicon Valley, has produced ventures like Dentio, a startup focused on dental A.I. assistants that raised $2.3 million in January, and Pit, a workflow-focused firm that raised $16 million earlier this month. Stockholm is also home to legal tech venture Legora, which recently secured $600 million in funding.
Lovable’s Swedish roots have been an asset, according to Meadows. He described the company’s backers—including CapitalG, Menlo Ventures, and Accel—as “bullish on Europe,” adding that a shared interest in keeping Europe competitive in A.I. has helped attract both supporters and investors. “I think it’s really worked as a pretty major advantage for us.”
The startup isn’t actively looking to raise more funding just yet, said Meadows. “We’re not in a position to really think about anything other than execution right now.”
Retention, however, is a priority. Earlier this month, Lovable announced that full-time employees will automatically receive a 10 percent pay increase on their work anniversary—a policy more typical of Sweden’s generous labor practices than those in the U.S.
The number of employees eligible for that raise is expected to grow quickly. Lovable, which currently has about 200 employees, aims to double its headcount to 400 by the end of 2026. Alongside expanding its teams in Sweden and Boston, the company is hiring in San Francisco, New York and London.
