Supabase valuation doubles in 8 months to reach $10 billion

Supabase, an open-source database platform, announced on Friday that it had closed a $500 million Series F investment round. Following this investment, the company's market valuation reached $10.5 billion. Thus, the startup doubled its value in a short period, officially achieving "decacorn" status. Techcrunch.com reports .

According to Paul Copplestone, CEO and co-founder of the company, platform usage has grown by more than 600% over the past year. Interestingly, over 60% of newly created databases are being launched with the help of artificial intelligence tools. Currently, the number of Supabase users is approaching 10 million, a figure that has also doubled in the last eight months.

Copplestone emphasized the significant role of AI models like Claude Code and Codex in this unprecedented growth. In his opinion, artificial intelligence is drastically expanding the number of people with programming capabilities. Currently, popular companies such as Figma, Replit, Bolt, and Lovable are actively using the Supabase platform.

Supabase uses the open-source Postgres database as its technical foundation. Additionally, the company introduced a new tool called Multigres to simplify system management. This tool allows for centralized management of complex tasks arising during database scaling.

The investment round was led by the GIC fund. It also involved new partners such as Georgian and Salesforce Ventures, alongside existing investors like Stripe. The head of Supabase emphasized that the strategy of staying true to its product vision, rather than just adapting to the demands of large corporations, has paid off.