Supabase doubles valuation to $10 billion in 8 months

Supabase, the biocoding world’s favorite open source database, He was aroused The company on Friday announced a $500 million Series F at a pre-money valuation of $10 billion. That’s about $10.5 billion after investment.

The price of a newly minted decacorn has doubled its valuation every few months for a few years now, as dynamic coding tools have propelled its use to astonishing growth: more than 600% in the past year, with more than 60% of new databases launched “by some type of AI tool,” CEO and co-founder Paul Coplestone wrote in a blog post. Announcement of the increase.

The startup also claims nearly 10 million developers as users, which has doubled in eight months. Coplestone specifically credits Cloud Code and Codex for this growth because popular AI models “increase the number of people who can build.” Supabase is also the database of choice for Bolt, Figma, Lovable, Replit, and others.

This new cash flow follows a $100M round at $5B valuation In October. This increase came a few months after $200 million closed at $2 billion.

Supabase uses the popular open source Postgres database as its engine, a database that was released long before AI was even in Sam Altman’s eyes. One of the most interesting things about Supabase is the work it is doing to make Postgres less maintenance-intensive for active developers and programmers as their applications grow and attract users.

For example, this week it also launched a tool called Multigres, which it describes as an “operating system” for Postgres. It is intended to reduce the complexity of running Postgres at scale, giving developers a centralized way to manage troublesome tasks such as read replicas, failover, connection limits, backups, etc.

Another interesting thing about the company has to do with the choices Copplestone made to build it. Ali told us November episode of the Equity podcast How he refused to participate in the “defacement” of developer tools because it would not meet the needs of companies that offer multi-million dollar contracts and who then place orders on the products. Instead, he sticks to his vision for the product. This is the opposite strategy for most startups, but it’s undeniably successful for Supabase.

The round was led by GIC, with existing investors such as Stripe, and new investors Georgian and Salesforce Ventures accumulating.