Database startup Supabase has secured $500 million in new funding, lifting its valuation to $10.5 billion. The round was led by GIC, Singapore's sovereign wealth fund, with participation from existing backers Accel and Y Combinator.
Just eight months after its Series E, this latest investment brings Supabase's total raised to over $1 billion. The company provides backend tools for developers building websites and AI applications.
Co-founder and CEO Paul Copplestone says the company is a major beneficiary of AI coding tools from Anthropic, OpenAI, and Cursor, which are driving massive demand for its PostgreSQL-based platform.
Since its 2020 launch, Supabase has attracted over 250,000 users and employs 350 people. It competes directly with MongoDB and Amazon Web Services' Aurora database.
Today, the company previewed Multigres, a new tool designed to help developers scale their applications as large as OpenAI. Accel partner Arun Mathew called the company's growth "phenomenal," saying no database startup has grown at this pace before.