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AI Fuels Supabase Growth to $10.5B Valuation
5 Jun
Summary
- Supabase secured $500 million Series F, reaching a $10.5 billion valuation.
- AI tools significantly boosted usage, with 60% of new databases launched by AI.
- The company now serves nearly 10 million developers, doubling in eight months.
Supabase, a prominent open-source database provider, announced a significant $500 million Series F funding round, valuing the company at $10.5 billion. This substantial investment comes after a period of remarkable growth, with the company's valuation doubling in recent years.
Co-founder and CEO Paul Copplestone highlighted the pivotal role of AI tools in this expansion. Usage has surged by over 600% in the past year, with a notable 60% of new databases being initiated by AI applications. This trend is attributed to AI models that broaden accessibility to software development.
Supabase's user base has also seen explosive growth, nearly doubling to 10 million developers within the last eight months. The company utilizes Postgres as its core engine, focusing on simplifying its management for developers as applications scale.
Recently, Supabase introduced Multigres, an "operating system" for Postgres designed to streamline complex management tasks such as read replicas and backups. This innovation aims to ease the burden of maintaining Postgres at scale.
Copplestone also detailed a strategic decision to avoid catering to large enterprise contracts, preferring to maintain a clear product vision. This approach, though unconventional, has proven successful for Supabase, attracting significant investment from GIC, Stripe, Georgian, and Salesforce Ventures.
