SAN FRANCISCO: Supabase, the open-source backend platform built on Postgres, said on June 4 that it raised $500 million in a Series F round at a $10.5 billion post-money valuation. Singapore sovereign wealth fund GIC led the round, the company said in a press release. Every existing investor participated, Stripe doubled its position, and Salesforce Ventures joined for the first time. Total capital raised now exceeds $1 billion.
The new valuation is roughly twice the $5 billion price tag Supabase carried after its $100 million Series E in October 2025. Accel, Y Combinator, Craft, Felicis, Peak XV, and Coatue all returned for the Series F. The company also said it is letting employees cash out 25% of their vested options as part of the round.
Why a database company is suddenly worth $10.5 billion
Supabase is a Postgres-based backend service that gives developers a database, authentication, file storage, and edge functions out of one product. Until recently, that put it in the same bucket as Firebase and other developer-tools companies that grow steadily but rarely hit hypergrowth multiples. The shift over the last seven months is the AI coding boom, which has converted Supabase from a developer tool into the default backend for software that humans never write by hand.
The company says its user base has more than doubled since the Series E, and that the number of databases created on the platform is up 600% year-over-year. The customer count sits above 250,000. The growth driver, CEO Paul Copplestone said, is autonomous coding agents. “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,” Copplestone said in the announcement.
Supabase for Platforms, the white-label offering that AI app builders such as Lovable, Bolt, and v0 use to provision backends for their users, grew its customer base 370% in the past six months, the company said. Each prompt a non-technical user types into one of those builders can spin up a fresh Supabase database in the background. That makes Supabase a toll road on the “vibe coding” economy: every AI-generated app needs a place to store data, and increasingly that place is Supabase.
What does the Supabase Series F mean for founders building on AI?
For founders, the round is the clearest signal yet that the picks-and-shovels layer of the AI build-out is where late-stage capital is still moving aggressively. A developer-infrastructure company doubled its valuation in seven months because the unit of a “developer” is shifting from a person to an agent, and the agent buys infrastructure faster than a human does.
That shift has practical consequences. App builders that integrate with Supabase inherit a backend that scales without their users touching SQL. Founders evaluating where to deploy can read the round as a vote of confidence in Postgres as the default agentic database, which matters when GIC, Stripe, and Salesforce Ventures are all writing checks at the same time. The Series F also gives Supabase a war chest to compete head-on with hyperscaler database offerings from AWS, Google Cloud, and Microsoft, all of which are racing to win the same AI-native workloads.
The funding round mirrors a wider trend in 2026. Other infrastructure plays for the AI stack have raised at similar multiples, including Coralogix’s $200 million Series F to monitor AI agents and the wave of agent-tooling rounds aimed at the same buyer. Supabase is now the largest pure-play database name in that cohort.
What to watch next from Supabase
Copplestone said the new capital will go to growth, employee liquidity, and accelerating open-source Postgres development. The most concrete product signal alongside the announcement is Multigres, a tool Supabase released in preview that the company says is designed to let customers scale Postgres deployments “up to the size of OpenAI or even larger.” Multigres is a horizontal-scaling layer for Postgres, and it directly answers the most common objection developers raise against Supabase at the high end: that Postgres on a single primary cannot match the throughput of distributed databases like Spanner or CockroachDB.
The other thing to watch is whether Supabase converts the agent-driven growth into enterprise contracts. Provisioning 600% more databases is one thing, monetizing them at AWS-comparable rates is another. The company has not disclosed annualized revenue, but the Series F price implies that GIC and existing investors are underwriting a path to public-market scale. With Stripe doubling its position and Salesforce Ventures joining, Supabase is now backed by enough strategic capital to make an IPO conversation realistic within the next 18 to 24 months. For builders deciding what to stack their startup on, that is the more important signal than the valuation itself.
