Supabase valuation doubles to $10B in funding round

Open-source database provider Supabase has raised $500 million in a Series F funding round, achieving a pre-money valuation of $10 billion. This marks a doubling of its valuation in just eight months, driven by the growing adoption of developer tools, particularly those integrated with AI. Supabase reports that over 60% of its database launches are now initiated by AI tools, contributing to a 600% growth in database launches over the past year and nearly 10 million developers as users. The company plans to use the new capital to further enhance its platform and scale its operations.