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

Lovable crossed $400 million in annual recurring revenue in February, the Stockholm company confirmed to TechCrunch. But it declined to say whether it is still projecting to reach $1 billion ARR by year’s end, saying its focus is on “helping builders scale their impact with our platform.”

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

Lovable’s debut brand campaign, “Earworm,” which began running this week across social platforms, YouTube, and connected TV, still speaks to mainstream users. The film follows a woman who can’t rid herself of a song — performed by Swedish band Boko Yout — until she finally opens Lovable and builds it into a working app. The creative team behind the campaign built the band app that’s featured in the film using Lovable itself as a functional, live product, in fact. “The purpose of this brand campaign is to inspire the next generation of builders — non-technical people with great ideas that deserve to come to life,” a spokesperson told TechCrunch. 

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

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

Disclosing ever-increasing ARR numbers is also a way for the company to show its success is not fading. It had previously reported $100 million ARR last July, $200 million last November, and $300 million in January, which suggests that its revenue growth has been accelerating 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 notion that they could create full apps as seamlessly may be overrated, but their parent companies may eventually decide to compete with Lovable, which is built atop their models. However, Osika has shown little concern, and the company’s latest usage metrics offer some support for that confidence.

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Its most recent user spike was tied to a specific promotion — Lovable’s SheBuilds initiative for International Women’s Day on March 8, when the whole platform was free for one day. “We saw various records set,” the company told TechCrunch. “One 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 of [approximately] 200,000).”

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

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

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ElevenLabs lists BlackRock, Jamie Foxx, and Eva Longoria as new investors

Voice AI company ElevenLabs revealed new investors that are part of its $500 million Series D fundraise, which was first announced in February. The additions include institutions such as BlackRock, Wellington, D.E. Shaw, and Schroders; enterprises like Nvidia, Salesforce Ventures, Santander, KPN, and Deutsche Telekom; and individual investors such as Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk.

The startup also noted that it surpassed $500 million in ARR (annual recurring revenue), after ending last year with nearly $350 million in ARR. The company’s co-founder and CEO, Mati Staniszewski, said last month that ElevenLabs added $100 million in net new ARR in Q1 2026, ending the quarter at roughly $450 million in ARR.

The company has also accelerated its valuation rapidly, growing from $6.6 billion last September to $11 billion this February.

“Voice is the highest-stakes channel for any customer interaction, and the bar for quality, latency, and security is extremely high. ElevenLabs is not just a category leader – it is becoming a foundational enabler of Deutsche Telekom’s broader Industrial AI vision. From voice-as-a-service to multilingual automation and in-network AI agents, we believe the company is uniquely positioned to reshape how businesses interact with customers across all channels,” Karine Peters, managing director at Deutsche Telekom’s venture arm T.Capital, said in a statement.

In the past quarter, the voice AI company has signed enterprise contracts with the likes of Deutsche Telekom, Revolut, and Klarna.

ElevenLabs said that, besides the fundraising, it also closed a $100 million tender, a second in roughly six months after the company issued one last September. Staniszewski said in a blog post that the company will give an opportunity to retail investors to invest in ElevenLabs through Robinhood Ventures, but didn’t provide details about the program.

Staniszewski noted that consumers won’t trust systems that sound robotic or “interact strangely” and emphasized the importance of building “human-level AI voice models.” Last month, the company acquired the team from Polish voice AI startup Papla to bolster its research team.

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Kaspersky suspects Chinese hackers planted a backdoor into Daemon Tools in ‘widespread’ attack

Security researchers at Kaspersky say they have identified a malicious backdoor planted in the popular and long-running Windows disc imaging software, Daemon Tools. 

The Russian cybersecurity company said on Tuesday that data collected from computers around the world running the Kaspersky antivirus software shows a “widespread” attack is under way, targeting thousands of Windows computers running Daemon Tools.

The hackers, whom Kaspersky has linked to a Chinese-language speaking group based on an analysis of the malware, used the backdoor in Daemon Tools to plant additional malware on a dozen computers across the retail, scientific and manufacturing sectors, as well as government systems. Kaspersky said the hacking of these specific computers implied a “targeted” effort. 

The company said the targeted organizations are located in Russia, Belarus, and Thailand.

Kaspersky said the backdoor was first detected on April 8.

Kaspersky said it had contacted Disc Soft, the company that maintains Daemon Tools, but did not say if the developer responded or took action. Kaspersky said the supply chain attack is “still active,” suggesting that the hackers can still plant malware on thousands of computers running the disc imaging software.

This is the latest in a string of so-called “supply chain” attacks that have targeted developers of popular software in recent months. Hackers are increasingly taking aim at the accounts of developers who work on widely used code and software, and abusing that access to push malicious code to anyone who relies on the software. This approach lets the hackers break into a large number of computers at once when their malicious code is delivered as a software update.

Earlier this year, hackers associated with the Chinese government hijacked the popular text editing software Notepad++ to deliver malware to a number of organizations with interests in East Asia. Security researchers also warned of another attack last month targeting users who visited the website of CPUID, which makes the popular HWMonitor and CPU-Z tools.

TechCrunch downloaded the Windows installer from Daemon Tools’ website, and the file appeared to contain the backdoor when we checked it with the online malware scanner service VirusTotal.

It’s not known if the macOS version of Daemon Tools was compromised, or if other apps made by Disc Soft are affected.

When contacted for comment, a Disc Soft representative said they are “aware of the report and are currently investigating the situation.”

“Our team is treating this matter with the highest priority and is actively working to assess and address the issue. At this stage, we are not in a position to confirm specific details referenced in the report. However, we are taking all necessary steps to remediate any potential risks and to ensure the security of our users,” the representative said.

Do you know more about the cyberattack targeting Daemon Tools users? Did you receive an antivirus alert saying you were affected? We want to hear from you. To contact this reporter securely, reach out via Signal username zackwhittaker.1337.

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Etsy launches its app within ChatGPT as it continues its AI push

Etsy announced Tuesday the launch of its native app within ChatGPT, opening up a new way for shoppers to explore its catalog of over 100 million listings.

The new experience is designed to move beyond the limitations of traditional keyword queries. Instead of typing something like “wooden coffee table,” then scrolling and adjusting filters, users can now express what they’re looking for in natural language. For instance, “Help me find a Mother’s Day gift under $100 for my mom who loves gardening.”

Now live in beta, the feature allows users to tag @Etsy directly within a prompt. From there, the Etsy app in ChatGPT surfaces relevant product listings that users can browse, compare, and click through to Etsy for additional details or purchase.

This isn’t Etsy’s first experiment inside ChatGPT. Back in September, Etsy became an early partner in ChatGPT’s Instant Checkout integration, which let users buy products directly inside the chat interface. However, the initiative ended in March, suggesting it didn’t perform as OpenAI had hoped. It was reported that Etsy didn’t see a large volume of sales from the integration, leading Etsy to start building a native app within ChatGPT instead. 

Alongside this launch, Etsy also revealed it’s testing a beta conversational search experience within its platform, specifically geared toward helping users find gifts. The gift assistant acts as a personal shopper, offering a guided, conversational way to discover ideas, narrow down preferences, and surface relevant products.

Image Credits:Etsy

This builds on Etsy’s broader AI push, which includes an AI-powered discovery experience featuring curated collections and a suite of seller tools, including a tool that helps generate product titles and descriptions, as well as a writing assistant to help draft messages to buyers. In 2024, Etsy introduced a new “Designed” label to identify AI content, part of an effort to increase transparency as AI-generated artwork becomes more prevalent on the platform.

The news of a ChatGPT integration comes a week after Etsy reported its Q1 2026 earnings, surpassing revenue expectations with $631 million, and marketplace gross merchandise sales were up 6% year over year. Notably, active buyers increased for the first time in two years to 86.6 million. Etsy also touted 5.6 million active sellers on the platform. 

In February, the company announced it was selling Depop to eBay for $1.2 billion in cash, a move aimed at doubling down on its core marketplace.

Etsy joins a growing list of companies building native apps within ChatGPT, including Angi, SeatGeek, Tubi, and Wix. Developers have been able to build apps within the chatbot since October.

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