Supabase, an open-source database service, announced a $100 million Series E funding round co-led by Accel and Peak XV. The investment places the company’s valuation at $5 billion, marking another significant capital infusion for the startup.
This latest funding follows a consistent pattern of high-value investments. Just four months prior, Supabase closed a $200 million Series D round led by Accel, which valued the company at $2 billion. That round occurred seven months after an $80 million Series C financing led by Sequoia spinoff Peak XV and David Sacks’ Craft Ventures. PitchBook estimated the post-money valuation for the Series C at approximately $765 million.
The combination of its Series C, D, and E rounds amounts to $380 million raised over the course of a single year. Based on PitchBook’s estimate for the Series C valuation, this period reflects a valuation increase of more than 500 percent. With the new capital, Supabase reports its total funding raised to date has now reached $500 million.
Founded in 2020 by CEO Paul Copplestone and CTO Ant Wilson, Supabase originated as a Y Combinator startup. It was created to provide developers an open-source, Postgres-based alternative to Google’s Firebase, a database also designed to power AI applications. The Supabase platform is engineered to simplify database setup by combining Postgres with a suite of open-source tools for key functions. These include authentication, auto-generated APIs, file storage, and a vector toolkit that is necessary for many AI-driven applications.
The service became a popular backend for applications that use natural language prompts to write code, such as Lovable and Bolt. Supabase also states it is the database of choice for several AI coding tools, including Figma, Replit, Cursor, and Claude Code. The company claims a user base comprising a community of 4 million developers. In conjunction with its Series E funding, Supabase announced it is allowing these community members to purchase company stock.
