Supabase completes $500 million financing, valued at $10.5 billion

According to Beating monitoring, Supabase announced the completion of a $500 million Series F financing, led by GIC and with participation from Stripe, Georgian, Salesforce Ventures, and others. The post investment valuation reached $10.5 billion. CEO Paul Copplestone stated that the funds will be used for the development of open-source tools such as Multigres and support for employee mobility. Supabase also released Multigres v0.1, providing Postgres horizontal scalability. The platform developers are approaching 10 million, and the database deployment volume has increased by 600% year-on-year, with over 60% created by AI tools. This round of financing continues the employee friendly option policy, allowing the sale of up to 25% of vested options with an exercise period of up to 10 years.