Supabase Secures $100 Million in Series E Funding
Supabase has raised $100 million in a Series E funding round led by Accel and Peak XV, achieving a valuation of $5 billion.
The open-source platform's user base has expanded from one million to over four million developers, driven by a new era of 'vibe coding' that simplifies and enhances collaborative app development.
Supabase, an open-source backend platform built on Postgres, recently secured $100 million in Series E funding, reaching a $5 billion valuation. The round was led by Accel and Peak XV, with participation from Figma Ventures and others.
The company's valuation has more than doubled in just five months, following its $200 million Series D round in April, which valued Supabase at $2 billion. This latest investment brings its total funding to $500 million since its founding in 2020.
CEO and cofounder Paul Copplestone described the new round as a strategic step to strengthen Supabase's infrastructure and support its fast-growing global developer community. He emphasized the company's focus on insiders rather than adding new institutional backers.
According to Copplestone, the 'vibe coding' movement began last December and has evolved through several waves. The first wave promised simplicity, the second declared no need for coding, and the third merges both ideas, enabling seamless app building and scaling across devices.
Supabase's tools have become popular among AI and no-code builders, with about 30% of new users identifying as 'AI builders,' leveraging Supabase for automated or assisted app development.
Built on the Postgres database system, Supabase competes directly with Google's Firebase, offering an open-source alternative for developers seeking more control and transparency.
The inclusion of Figma Ventures in this round reflects growing ties between design, AI, and developer infrastructure. Supabase already supports Figma Make, an AI-driven design tool, highlighting the blending of modern design and coding workflows.
Supabase plans to use the new capital to expand its global reach, enhance its AI integrations, and launch new tools for developers across industries.