AI Startup Lovable Hits $200 Million in Annualized Sales, Set For Fresh Fundraise

Lovable, a Swedish artificial intelligence coding startup, said it has reached $200 million in annual recurring revenue, a sign of rapid growth that’s allowing the company to raise funds less than five months after its last round.

The company, which is not yet profitable, is close to raising new funding that would value it above $6 billion, a person familiar with the matter said. The company declined to comment. Forbes first reported some details of the fundraise.