Supabase Raises $500M at $10B Valuation
Supabase (supabase.com), the open source Postgres development platform, has raised a $500 million Series F at a $10 billion pre-money valuation. The round was led by GIC, Singapore's sovereign wealth fund. All existing investors joined, Stripe made a second investment, and Georgian and Salesforce Ventures came in as new investors. Existing backers include Accel, Y Combinator, Craft, Felicis, Peak XV, and Coatue.
The valuation has doubled since Supabase's $100 million Series E just eight months ago, which was led by Accel and Peak XV at $5 billion. That round itself came four months after a $200 million Series D at $2 billion, also led by Accel. The acceleration is striking even by Silicon Valley standards. As Accel partner Arun Mathew told CNBC: "We haven't seen a company grow at this pace, certainly in the database layer, ever, ever before."
The growth engine is AI-assisted coding. Supabase has seen a 600% year-over-year increase in database launches, with Claude Code as the largest contributor since the start of the year. "Agents are now deploying the majority of databases on our platform," said CEO Paul Copplestone.
Founded in 2020 by Copplestone and CTO Ant Wilson, Supabase started as an open source alternative to Google's Firebase, built on Postgres. The company now serves more than 250,000 customers, and its developer community has grown from 4 million at the Series E to nearly 10 million today. As TechCrunch reported, Supabase is a database of choice for Bolt, Figma, Lovable, Replit, and other platforms in the AI coding ecosystem.
Alongside the funding, Supabase released Multigres v0.1, an open source tool it describes as an operating system for Postgres. Postgres is hard to run at scale, and Multigres aims to provide high availability and operational simplicity, with Vitess-grade horizontal scaling coming in a future release. The company says it will also bring OrioleDB to production readiness this year, giving it a more complete Postgres stack that tackles common pain points like bloat, connection pooling, and sharding.
"The product just works, and I think historically there have been a lot of challenges with scaling a database from a small, tiny application with one developer to some of the largest organizations, companies, applications in the world. Very few products do that."
— Arun Mathew, Partner at Accel (via CNBC)
The funding will go toward three areas: accelerating open source Postgres development, supporting the company's growth, and providing liquidity for employees. Supabase now employs approximately 350 people across more than 50 countries, and in each funding round the company has offered employees the ability to sell up to 25% of their vested stock.
Supabase for Platforms, which powers many of the top AI app builders, has seen 370% customer growth in the past six months, making it the fastest-growing product in Supabase's lineup. As more people ship software through AI coding tools, the infrastructure underneath it all needs to keep up. Supabase is betting that Postgres, done right, is the answer.