Supabase Reaches $10 Billion Valuation Just Eight Months After Previous Funding Round

Supabase, the open-source database platform that has become a favourite among developers and AI-powered coding tools, has raised $500 million in a Series F funding round, valuing the company at $10 billion before the investment and approximately $10.5 billion afterwards.

The latest funding marks another major milestone for the company, which has seen its valuation rapidly climb over the past few years as AI-assisted development continues to accelerate adoption. According to CEO and co-founder Paul Copplestone, database launches on Supabase have increased by more than 600% over the last year, with over 60% of new projects being created through some form of AI-powered development tool.

The company now says it serves nearly 10 million developers worldwide, a figure that has doubled in just eight months. Copplestone highlighted the impact of tools such as Claude Code and Codex, noting that they are helping expand the number of people capable of building software. Supabase has also become a popular database platform for products and services such as Bolt, Figma, Lovable, and Replit.

The new financing follows a rapid sequence of funding rounds. In October, Supabase secured $100 million at a $5 billion valuation. That round came only months after the company raised $200 million at a $2 billion valuation, illustrating the pace of its growth.

At the core of Supabase is PostgreSQL, the widely used open-source database technology that predates the modern AI boom by decades. One of the company’s key focuses has been simplifying PostgreSQL management as applications scale, making it easier for developers and AI-assisted builders to handle growing workloads.

This week, Supabase introduced a new product called Multigres, which the company describes as an operating system for PostgreSQL. The platform is designed to reduce the complexity of managing databases at scale by providing centralised control over tasks such as read replicas, failover management, connection limits, backups, and other operational requirements.

Another aspect that has attracted attention is Copplestone’s approach to building the company. Speaking on the Equity podcast last year, he explained that Supabase has deliberately avoided reshaping its product roadmap around large enterprise contracts and customer-specific demands. Instead, the company has focused on following its own product vision and developer-first strategy.

While many startups prioritise enterprise sales and custom features, Supabase has taken a different route. This strategy appears to be paying off as adoption and investor interest continue to grow.

The Series F round was led by GIC, with participation from existing investors including Stripe, as well as backer Georgiann and Salesforce Ventures.