Supabase Raises $500M Series F at $10.5 Billion Valuation as AI Agents Drive a Database Explosion
The open-source Postgres platform raised $500M led by GIC just seven months after its Series E, citing 600% database growth driven by AI coding agents.
Overview
Supabase, the open-source platform built on the Postgres database, has raised a $500 million Series F at a $10.5 billion post-money valuation, according to the company’s press release. The round comes just seven months after the company’s Series E and brings its total capital raised to over $1 billion. Supabase, which was founded in 2020, frames the new capital as a bet on a surge in database creation driven by AI coding agents, as reported by TechNode Global.
What We Know
The round was led by the Singapore sovereign wealth fund GIC, “with all existing investors participating including Accel, Y Combinator, Craft, Felicis, Peak XV, and Coatue,” according to the company’s press release. In its Series F blog post, Supabase added that Stripe made its second investment in the company and that Georgian and Salesforce Ventures also joined the round.
The company tied the raise directly to AI-driven demand. “Demand for Supabase is exploding…Agents are now deploying the majority of databases on our platform,” said Paul Copplestone, Co-founder and CEO of Supabase, in the press release. The company reported a 600% increase in databases year-over-year and said it has over 250,000 customers, per the same release. In its blog post, Supabase noted that over 60% of new databases are now launched by AI tools.
The company singled out specific AI coding tools as a growth driver. “Claude Code is the largest contributor since the start of the year,” the company said in its press release. In its blog post, it added that growth has accelerated since January “as Claude Code and Codex expand the number of people who can build.”
On its user base, the company said in the press release that “the majority of AI app builders and more than 9 million developers use Supabase.” Its white-label offering, Supabase for Platforms, has had 370% customer growth in the past six months, according to the same release.
Alongside the raise, Supabase announced a preview of Multigres, which it describes as “an open source scaling layer for Postgres,” per the press release.
What We Don’t Know
The company has not disclosed revenue figures or a breakdown of how much of the new capital is primary versus secondary. The growth metrics it cites, including the 600% increase in databases and the share of databases now created by AI agents, are self-reported and have not been independently audited. It is also not clear from the cited sources how the $10.5 billion valuation compares with the valuation set at the Series E seven months earlier.
Analysis
Supabase’s pitch positions a database company as direct infrastructure for the AI coding boom rather than a beneficiary one layer removed from it. By naming Claude Code and Codex as growth drivers and reporting that agents now deploy the majority of databases on its platform, the company is arguing that the proliferation of AI-generated applications translates into a proportional surge in backend provisioning. Whether that demand sustains the $10.5 billion valuation will depend on factors the company has not disclosed, including how many of the databases launched by AI tools convert into paying, long-lived workloads versus disposable experiments.