Database startup Supabase seeks to double valuation to $10 billion: Report

Singapore sovereign wealth fund GIC is in talks to lead an investment in open-source database startup Supabase at a valuation of about $10 billion, The Information reported on ‌Thursday, citing ⁠people ⁠with direct knowledge of the talks.

Here are ​some details:

Supabase is seeking to raise about $500 ​million in the fundraising round, although the amount could change, the report added. Reuters could not ⁠independently verify ‌the report. Supabase and GIC ​did ​not immediately respond to ⁠requests for comment.


The talkscome months after ​the company was valued at $5 billion ​in a funding round last fall.

Supabase is a backend platform that enables developers to quickly build applications and has benefited ‌from growing demand for AI-powered coding assistants. The platform is built on the PostgreSQL ⁠open-source database, a system for organising and managing information online.

Founded by Paul Copplestone and Ant Wilson in 2020, Supabase counts Accel, Felicis, Coatue Management, Y Combinator and Craft Ventures among its existing investors.