Supabase raises $500M as AI coding tools drive ‘phenomenal’ growth
Postgres database startup Supabase Inc. has closed on a $500 million investment that brings its valuation to a cool $10.5 billion, it said today. The company, which provides ready-to-use backend tools for developers building websites and artificial intelligence coding applications, said the round was led by GIC, the sovereign wealth fund of Singapore. All of its previous investors, including Accel and Y Combinator, participated.
The round comes just eight months after Supabase closed on its Series E and means it has now raised over $1 billion in total funding, in the latest sign that investors are willing to pour cash into all corners of the AI market.
Supabase is riding on the massive growth in AI-assisted software development, which allows developers and others who don’t possess coding skills to build software using simple natural language prompts. The company said it has been a major beneficiary of the growing popularity of apps like Anthropic PBC’s Claude Code, OpenAI Group PBC’s Codex and similar tools like Cursor. These tools all require backend databases of the kind that Supabase provides, and they now make up the bulk of its user base, said co-founder and Chief Executive Paul Copplestone (pictured left, alongside Chief Technology Officer and co-founder Ant Wilson).
