Supabase, the leading open-source database platform popular among developers, has successfully secured a $500 million Series F funding round, elevating its pre-money valuation to an impressive $10 billion, as announced on Friday. This brings the total valuation to approximately $10.5 billion post-investment.
Over the past couple of years, Supabase has consistently doubled its valuation every few months, driven by the rising popularity of its tools. The company reported an astonishing growth of over 600% in the last year alone, with more than 60% of new databases being launched through various AI tools, as highlighted by CEO and co-founder Paul Copplestone in a recent blog post.
With nearly 10 million developers now using its platform--double the number from just eight months ago--Supabase is rapidly becoming the go-to choice for many tech enthusiasts. Copplestone attributes this surge to AI models like Claude Code and Codex, which have broadened the accessibility for individuals looking to create applications. Notable companies such as Bolt, Figma, Lovable, and Replit have also adopted Supabase as their preferred database.
This latest funding round follows a $100 million investment at a $5 billion valuation just a few months earlier and comes after a $200 million raise at a $2 billion valuation. Supabase operates on the widely-used open-source database, Postgres, which has been around long before AI entered the tech landscape.
One of Supabase's innovative contributions is the introduction of a new tool named Multigres, described as an "operating system" for Postgres. This tool aims to simplify the management of Postgres at scale, enabling developers to handle essential tasks such as read replicas, failovers, and backups more efficiently.
Copplestone's vision for Supabase diverges from typical startup strategies. He has consciously chosen to avoid the "sh*tification" of developer tools, opting instead to reject lucrative contracts that come with demanding product specifications. This commitment to a clear product vision has proven successful for Supabase, setting it apart in a competitive market.
This funding round was spearheaded by GIC, with participation from existing investors like Stripe and new backers such as Georgian and Salesforce Ventures.
