Supabase, an open source Postgres development platform, announced a $500 million Series F funding round at a $10.5 billion post-money valuation. The round was led by GIC, with participation from existing investors including Accel, Y Combinator, Craft Ventures, Felicis, Peak XV Partners, and Coatue. The company also noted that Stripe made its second investment in Supabase, while Salesforce Ventures joined the round.
The funding comes just seven months after Supabase’s Series E financing and brings the company’s total capital raised to more than $1 billion. The company plans to use the capital to strengthen its position as a provider of infrastructure for AI-native applications and autonomous software agents.
Supabase said demand for its platform has accelerated significantly as AI developers increasingly adopt its backend services. The company reported that its user base has more than doubled since its Series E round and that the number of databases running on its platform has increased by 600% year over year.
The company now serves more than 250,000 customers and over 9 million developers worldwide. Many enterprises are using Supabase as the backend infrastructure layer for AI-native applications, while AI agents are increasingly responsible for provisioning and deploying databases on the platform. Supabase said its Supabase for Platforms offering, which powers many leading AI application builders, has experienced 370% customer growth over the past six months.
Alongside the funding announcement, Supabase unveiled a preview release of Multigres, an open source scaling layer designed for PostgreSQL. Multigres aims to help organizations scale beyond a single Postgres instance without migrating to a different database architecture.
According to the company, Multigres provides horizontal scaling capabilities for PostgreSQL environments through features such as sharding, zero-downtime migrations, and high availability. The software is being released under the Apache 2.0 license, and an early preview is available through the company’s partner program.
Founded in 2020, Supabase offers a full backend development platform built around PostgreSQL, including database services, authentication, storage, edge functions, real-time subscriptions, vector search capabilities, and an ecosystem of more than 100 integrated partner tools.
KEY QUOTES:
“Demand for Supabase is exploding. Our user base has more than doubled since the Series E and we’ve seen a 600% increase in databases year-over-year. Claude Code is the largest contributor since the start of the year. Agents are now deploying the majority of databases on our platform.”
Paul Copplestone, Co-founder and CEO, Supabase
