vibe-coding startup anything nabs a $100m valuation after hitting $2m arr in its first two weeks

The Rapid Ascent of Vibe Coding and a New Contender

The popularity of vibe coding – utilizing AI-driven coding tools to construct applications and websites through natural language prompts – is experiencing substantial growth.

Swedish startup Lovable, focused on vibe coding, achieved $100 million in annual recurring revenue (ARR) within just eight months of its launch in July. Projections indicate a closing of $250 million ARR for the year, with expectations of reaching $1 billion ARR in the subsequent 12 months.

Replit, another key player, reported a significant increase in ARR, surging from $2.8 million to $150 million in under a year.

This remarkable expansion has spurred the emergence of numerous competitors, many of whom are also demonstrating rapid progress. According to Nikhil Basu Trivedi, co-founder and general partner at Footwork, a VC firm, “This is a sector characterized by widespread, vigorous growth across all companies.”

The Challenge of Production-Ready Software

Despite their impressive growth trajectories, Basu Trivedi contends that Lovable, Replit, and similar vibe-coding startups face a notable limitation. While proficient in prototype development, they often struggle to facilitate the launch of fully functional, production-ready software.

Basu Trivedi explains that a primary issue with many vibe-coding platforms is their failure to provide the complete infrastructure required by non-technical users to deploy a working product.

Anything, an AI application launched last month, aims to address this challenge by offering a comprehensive suite of tools – encompassing databases, storage, and payment processing – enabling users to operate businesses online or distribute their vibe-coded creations via app stores.

The company experienced rapid initial traction, reaching a $2 million annualized run rate within a mere two weeks.

Funding and Vision

Recognizing the company’s impressive growth rate within the crowded vibe-coding market, Basu Trivedi decided to invest.

Anything announced on Monday a successful $11 million financing round, resulting in a $100 million valuation. Footwork led the round, with additional investment from Uncork, Bessemer, and M13.

Co-founded by former Google colleagues Dhruv Amin and Marcus Lowe, Anything is specifically designed to empower individuals without technical expertise to create complete web and mobile applications.

Amin stated that existing vibe-coding tools haven’t yet demonstrated the ability to support fully functioning businesses. He envisions Anything becoming “the Shopify of the space,” enabling users to build profitable applications on their platform.

Early Successes and a Unique Approach

Amin reports that users have already utilized Anything to develop fully operational applications available in the App Store, including a habit tracker, a CPR training course, and a virtual hairstyle “try-on” app. Several of these applications are beginning to generate revenue.

This success, according to Amin, is largely attributable to the platform’s ability to eliminate the complexities of setting up and integrating essential tools with the initial prototype generated by the vibe-coding application.

The concept for a complete, AI-assisted app builder originated with Amin and Lowe approximately a year ago. The pair had collaborated since 2021, initially launching a bootstrapped development marketplace that combined AI coding tools with human developers.

However, the emergence of Large Language Models (LLMs) prompted a shift in strategy. Their previous business generated around $2 million in annualized run rate, but it became apparent that generative AI could deliver applications more quickly and cost-effectively.

Building In-House Infrastructure

In 2023, they discontinued their marketplace and began developing an AI-powered app-building tool, securing pre-seed and seed funding from Uncork and Bessemer Venture Partners.

Amin and Lowe observed that many competing tools, including Lovable and StackBlitz’s Bolt, rely on the third-party database Supabase. They believed that differentiating Anything AI would require building all the necessary infrastructure internally.

This development process required time, but may prove beneficial. Other startups, such as Mocha and Rork (projected to reach $10 million in ARR by year-end), are also investing in building substantial portions of their own infrastructure.

Basu Trivedi remains optimistic despite the intensifying competition. He believes “there’s sufficient demand for a variety of app-building products.”