Supabase closed a $500 million Series F at a $10.5 billion valuation on June 4, led by GIC with participation from Accel, Y Combinator, Craft, Felicis, Peak XV and Coatue. Stripe increased its investment and Salesforce Ventures joined as a new backer. The round doubles the six-year-old company's valuation in just eight months.
The driver is unmistakably AI. Supabase says databases deployed on its platform are up 600% year-over-year, that Claude Code is now its single largest source of new instances, and that AI agents are spinning up the majority of new databases. The company now counts nearly 10 million developers, roughly double its base eight months ago -- a direct read on how much real backend infrastructure the vibe-coding boom is generating.
“The pitch is that as AI-written apps proliferate, the companies providing their backends inherit durable, compounding demand.”
Alongside the raise, Supabase launched Multigres, a horizontally sharded, multi-region scaling layer in preview meant to take Postgres deployments to hyperscaler-grade workloads. The pitch is that as AI-written apps proliferate, the companies providing their backends inherit durable, compounding demand.