Supabase doubles valuation to $10B in 8 months

Supabase, the preferred open-source database platform for modern developers, announced a significant milestone on Friday, securing $500 million in a Series F funding round. This investment propels its pre-money valuation to an impressive $10 billion, which rises to approximately $10.5 billion post-investment. The startup has been on a remarkable trajectory, doubling its valuation every few months over the past couple of years. This surge is attributed to the increasing demand for vibe-coding tools, which have led to an astonishing growth rate of over 600% in the last year. Notably, more than 60% of new databases created recently have been initiated 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, Supabase has seen its user base double in just eight months. Copplestone credits the rise of AI models like Claude Code and Codex for broadening the accessibility of development, allowing more individuals to create applications. The funding comes on the heels of a $100 million round in October, which valued the company at $5 billion, following an earlier $200 million round at a $2 billion valuation. Supabase operates on the well-established Postgres database, which has been around long before the current AI boom. One of Supabase's key innovations is aimed at simplifying the management of Postgres databases. This week, the company launched Multigres, described as an “operating system” for Postgres, designed to streamline the complexities of running large-scale databases. This tool provides developers with a centralized approach to managing essential tasks such as read replicas, failovers, connection limits, and backups. Copplestone's vision for the company diverges from typical startup strategies. He has opted against catering to enterprises that demand extensive customization, instead choosing to focus on delivering a product that aligns with his original vision. This approach has proven successful, allowing Supabase to thrive in a competitive market. The recent funding round was led by GIC, with participation from existing investors such as Stripe and new investors including Georgian and Salesforce Ventures.