finance
Lovable Gives Full-Time Employees 10% Raise on Work Anniversaries
Swedish AI startup Lovable introduced a program granting a 10% raise to qualifying full-time staff on their first work anniversary and every year thereafter. The policy comes as the company, valued at $6.6 billion, reports rapid revenue growth and plans to nearly double its workforce by year-end. Executives say the move treats retention as compounding value in a competitive AI talent market.
May 7, 2:36 PM·2m read3 sources
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Lovable introduced a program that gives each full-time employee a 10% raise on their first work anniversary. Anton Osika, CEO and cofounder of Lovable, posted on X on May 7, 2026: "We just introduced a program at Lovable that gives each person in the team a 10% raise on their 1st anniversary. " The policy applies to all full-time staff who meet their performance expectations.
Maryanne Caughey, who leads Lovable's people team, told TechCrunch: "This program reflects the enduring company we want to build. It applies to all full-time employees meeting performance expectations on their work anniversary. " She previously told Business Insider that the longer someone stays at Lovable, the more deeply they understand the company, contribute to its momentum, and shape its culture.
Elena Varna, growth operator at Lovable, wrote on LinkedIn on Thursday: "We don't take retention for granted. " She added in the post: "Because we don’t take retention for granted. It’s treated as compounding value that is actively recognized and rewarded.
You don’t have to re-prove your worth every cycle. " Lovable is a Swedish company that enables users to build apps, websites, and digital products using AI prompts. 6 billion in December.
It launched its vibe-coding product in late 2024 and has been on a tear ever since. The startup crossed $400 million in ARR as claimed in March. Lovable projected hitting $1 billion in ARR by around the end of the year.
In some months, Lovable grew annual recurring revenue by $100 million. Lovable had 146 employees in March. The company is currently at 200 employees and plans to grow to 400 employees by year-end. Maryanne Caughey told Business Insider that the company plans to grow to 400 employees, up from 146 in March.
The announcement has drawn mixed reactions online. U.S. Others praised the retention strategy amid a job market where companies are rolling back benefits.
