Supabase secures $500 million Series F, reaching $10 billion valuation amid AI coding surge

Supabase, an open-source database platform built on the Postgres engine, has raised $500 million in a Series F funding round at a $10 billion pre-money valuation. The investment, led by sovereign wealth fund GIC, includes participation from existing backer Stripe and new investors Georgian and Salesforce Ventures. The deal values the company at approximately $10.5 billion post-money, marking a significant acceleration in a valuation trajectory that has doubled every few months over the past couple of years.

The company attributes its rapid expansion to the rise of AI-driven "vibe-coding" tools, which have driven a 600% increase in usage over the past year. Supabase now claims nearly 10 million developer users, a figure that has doubled in eight months. CEO and co-founder Paul Copplestone noted that over 60% of new databases launched are created using some form of AI tool, specifically crediting models such as Claude Code and Codex for expanding the number of people capable of building applications.

This influx of capital follows a $100 million round at a $5 billion valuation in October, which itself came just months after a $200 million raise at a $2 billion valuation. Supabase has become a database of choice for prominent platforms including Bolt, Figma, Lovable, and Replit, leveraging its open-source foundation to support the growing demand for scalable infrastructure in the AI era.

To address the complexities of managing Postgres at scale, Supabase launched a new tool called Multigres this week. Described as an "operating system" for Postgres, the tool is designed to help developers manage read replicas, failovers, connection limits, and backups, thereby reducing the maintenance burden as applications grow.

Despite the influx of institutional capital, Copplestone has maintained a strategy of refusing to cater to enterprise demands that conflict with the product vision. He has previously stated a commitment to avoiding the "sh*tification" of developer tools, choosing instead to stick to a product vision that prioritises developer experience over short-term enterprise contracts.