VERIFY RECORD

Lovable

7 of 8 claims verified

5 of 6 key claims verified against primary sources; 1 ARR figure is analyst estimate; notable security CVE and VAT controversy documented

Claims

[verified]
Founded 2023 in Stockholm by Anton Osika (CEO) and Fabian Hedin (CTO); rebranded from GPT Engineer App to Lovable in December 2024
GPT Engineer was Osika's open-source CLI project that went viral with 52,000+ GitHub stars. The commercial web product launched December 2024 under the Lovable brand. Company formally incorporated 2023.
en.wikipedia.org lovable.dev techcrunch.com
[verified]
$200M Series A led by Accel at $1.8B valuation
Closed July 17, 2025. At time of raise, ARR was $75M per TechCrunch, not $100M as later reported. Wikipedia incorrectly dates this round as February 2025. Multiple primary sources confirm July 17, 2025.
techcrunch.com siliconangle.com bloomberg.com
[verified]
$330M Series B led by CapitalG and Menlo Ventures at $6.6B valuation, December 2025
Additional investors include Khosla Ventures, Salesforce Ventures, Databricks Ventures. Total raised across all rounds: approximately $653M.
techcrunch.com lovable.dev
[verified]
$100M ARR in 8 months from launch, $200M ARR by November 2025
Sacra and TechCrunch confirm $100M ARR by July 2025 and $200M by November 2025. These are self-reported figures from the company; no independent audit cited.
techcrunch.com sacra.com en.wikipedia.org
[verified]
$400M ARR by February 2026 with 146 full-time employees
Self-reported to TechCrunch in March 2026. Company added $100M in revenue in February alone. TechCrunch explicitly notes figures are not third-party verified. 8 million users also self-reported at this time.
techcrunch.com
[plausible]
~$500M ARR as of mid-2026
Sacra estimates $500M ARR in May 2026 based on trajectory modeling. Not self-reported by Lovable. Consistent with the $100M/month growth rate documented in March 2026, but remains an analyst projection.
sacra.com getlatka.com
[verified]
Security CVE-2025-48757: AI-generated code shipped Supabase Row Level Security disabled by default, exposing 170+ apps
Vulnerability disclosed March 21, 2025. Public exploit confirmed April 14, 2025 by a Palantir engineer. CVE published May 29, 2025. Lovable released a 'security scan' feature April 24 that critics said failed to detect misconfigured RLS policies.
superblocks.com blog.vibecoder.me byteiota.com
[verified]
VAT non-compliance: company failed to collect VAT on EU sales
Surfaced November 2025. CEO Anton Osika acknowledged the failure publicly on LinkedIn and committed to remediation. Timing coincided with the Series B raise.
techcrunch.com

Gaps

Gross margin and profitability figures: not disclosed; revenue-per-employee ratio ($2.77M ARR/employee) is exceptional but burn rate is unknown.
Paying subscriber count at current date: 180,000 was confirmed at Series A (July 2025); no verified update found for 2026.
Headcount above 146 in mid-2026: data aggregators cite 517 to 1,069 employees but these figures are unverified and inconsistent; no primary source found.
Outcome of VAT remediation: no follow-up reporting confirming resolution.
User count verification: 8 million users is self-reported with no independent audit.
Earlier funding: a pre-seed (Hummingbird, ~$6.8M) and a $15M pre-Series A (Creandum, February 2025) are cited by aggregators but not confirmed via primary TechCrunch or company sources fetched here.