Supabase has raised USD $500 million in a Series F funding round, valuing the database software company at USD $10.5 billion post-money.
GIC led the round, with participation from existing investors Accel, Y Combinator, Craft, Felicis, Peak XV and Coatue. Stripe made a second investment in the company, and Salesforce Ventures also joined.
The fundraising comes seven months after Supabase's previous round and brings its total capital raised to more than USD $1 billion. Alongside the financing announcement, the company disclosed a preview release of Multigres, an open source scaling layer for Postgres.
Customer growth
Supabase says it has more than 250,000 customers, and more than 9 million developers use its platform. Its user base has more than doubled since the previous round, while the number of databases on its system has risen 600% year on year.
The company is built around Postgres, the open source database, and sells a broader backend software platform that includes authentication, storage, edge functions, real-time subscriptions and vector search. It says many larger businesses use the service as backend infrastructure for AI-native applications.
Artificial intelligence tools are becoming a larger source of activity on the platform. According to Supabase, Claude Code has been its largest contributor since the start of the year, and agents now deploy most of the databases created on its system.
Growth focus
Another product line has also grown quickly. Supabase for Platforms, used by AI application builders, recorded 370% customer growth over the past six months.
The fresh capital gives the company a larger balance sheet as competition intensifies among infrastructure suppliers serving AI software developers. Demand for database, storage and application tooling has increased as developers build software that relies on large numbers of automated interactions and frequent database creation.
Multigres launch
Multigres is designed for teams that outgrow a single Postgres instance and want to avoid moving to another type of database. The software adds sharding, zero-downtime migrations and high availability within the Postgres ecosystem, according to the company.
The Multigres preview is being released under the Apache 2.0 licence, in keeping with Supabase's open source positioning, which has been central to its pitch to developers since it was founded in 2020.
Paul Copplestone, outlined recent demand trends. "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," said Paul Copplestone, Co-founder and Chief Executive Officer, Supabase.
Investor backing
The size and valuation of the round place Supabase among the more highly valued private software companies focused on developer tools and database infrastructure. The investment also signals continued investor appetite for businesses tied to AI software creation, particularly those supplying the underlying data layer.
Founded in 2020, Supabase has built a business around giving developers a managed Postgres-based backend with a wider set of software services attached. Its marketplace now includes more than 100 integrated partner tools.
Stripe's follow-on backing stands out because the payments company has already invested in Supabase before. Existing backers also chose to maintain support at a time when private market investors have become more selective on valuation and growth expectations.