Supabase Secures $100M Series E Funding - InforCapital

The Postgres development platform, Supabase, has secured $100 million in a Series E funding round, raising its valuation to $5 billion. Accel and Peak XV led the round with Figma Ventures and other returning investors also participating, reinforcing their belief in the company’s potential. This round comes only four months after the Series D, pushing the total funding received by Supabase to over $500 million.

In an interesting development, Supabase plans to reserve a portion of the Series E funding for its community members, enabling them to co-invest alongside institutional partners. This move reflects the founders' commitment to the community and provides an opportunity for open source advocates to participate directly in the company's growth.

"Our community is what makes Supabase special, and it's a priority to give them the opportunity to co-invest in what we're building," stated Paul Copplestone, co-founder and CEO of Supabase. He further added, "With the new capital, we'll continue serving our community of over 4 million developers while building open source tools to scale Postgres."

Supabase has had a remarkable year, becoming the preferred backend for AI-driven development. Platforms like Lovable and Bolt, along with more than 100,000 customers including over 50% of the latest Y Combinator batch and enterprises such as PwC, McDonald's, and Github Next, run on Supabase.

Arun Mathew, partner at Accel, said, "Supabase is scaling with clarity and conviction while redefining what it means to build applications with AI." Shailendra Singh of Peak XV added, "Supabase started with managed Postgres but is now evolving into a platform company."

The new influx of capital will be used to accelerate work on "Multigres," an enterprise-scale version of its platform designed for large, data-intensive applications. To spearhead the effort, Supabase has onboarded Sugu Sougoumarane, co-creator of Vitess, who joins a growing list of industry-leading database and open source founders working at Supabase.

Supabase, the Postgres development platform, is the first choice for over 4 million developers for AI-driven development. The platform allows developers to quickly spin up a backend that instantly updates itself with commands from AI, making it popular among platforms like Bolt, Figma, and Lovable.