According to Beating Monitor, Supabase announced the completion of a $500 million Series F round led by GIC, with participation from Stripe, Georgian, Salesforce Ventures, and others, bringing its post-money valuation to $10.5 billion. CEO Paul Copplestone stated that the funds will be used to develop open-source tools such as Multigres and support employee liquidity. Supabase also launched Multigres v0.1, offering horizontal scaling capabilities for PostgreSQL. The platform now has nearly 10 million developers, with database deployments increasing by 600% year-over-year, over 60% of which were created by AI tools. This funding round continues the company’s employee-friendly stock option policy, allowing employees to sell up to 25% of their vested options with a 10-year exercise window.
Supabase Completes $500M F-Round Funding, Valuation Reaches $10.5B
AiCoinShare
Summary
Supabase announced $500 million in project funding, led by GIC with participation from Stripe, Georgian, and Salesforce Ventures. The round values the company at $10.5 billion. The funds will support open-source tools such as Multigres and employee liquidity. The platform now serves 10 million developers, with a 600% year-over-year increase in database deployments. Over 60% of new databases were built using AI. Multigres v0.1 introduces L2 scaling with horizontal Postgres scaling. Employees may sell up to 25% of their vested options under the 10-year exercise policy.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.