Supabase doubles valuation to $10B in 8 months

doubles valuation to $10B in 8 months">

Supabase, the go-to open source database for the coding community, has secured a whopping $500 million in its Series F funding round, pushing its pre-money valuation to $10 billion. This news comes hot on the heels of the company's announcement, which sent shockwaves through the tech industry. At a post-money valuation, the figure rises to approximately $10.5 billion.

The valuation surge marks a significant milestone for Supabase, which has been doubling its worth every few months over the past couple of years. The company's growth can be attributed to the rising popularity of coding tools, which have driven its usage to remarkable heights. According to CEO and co-founder Paul Copplestone, Supabase has witnessed an astounding 600% growth in the past year, with over 60% of new databases launched using some form of AI tool.

This growth has been fueled by the increasing adoption of AI-powered coding tools like Claude Code and Codex, which have expanded the pool of developers who can build using Supabase. The company now boasts nearly 10 million developers as users, a figure that has doubled in just eight months. Supabase has become the database of choice for prominent players like Bolt, Figma, Lovable, and Replit.

This latest funding round comes on the back of a $100 million raise in October, which valued the company at $5 billion, and a $200 million investment just months prior, which put its valuation at $2 billion. One of the key factors contributing to Supabase's success lies in its use of the popular open source database Postgres as its engine. The company is working tirelessly to make Postgres more developer-friendly, reducing the maintenance burden as apps grow and attract users.

This week, Supabase launched a tool called Multigres, described as an 'operating system' for Postgres. Multigres aims to simplify the complexity of running Postgres at scale, providing developers with a centralized way to manage tasks like read replicas, failovers, connection limits, and backups. Interestingly, Supabase's CEO, Paul Copplestone, has taken a contrarian approach to building his company.

In an interview on the Equity podcast in November, he revealed that he refused to engage in the 'sh*tification' of developer tools, choosing not to cater to enterprises offering lucrative contracts that often come with onerous product demands. Instead, Copplestone has remained committed to his own product vision, a strategy that has clearly paid off. The Series F funding round was led by GIC, with existing investors like Stripe, and new investors Georgian and Salesforce Ventures also participating in the round.