Total amount raised
$196.1 Millions
Latest funding date
Location
Title
Supabase has successfully raised $100 million in its latest funding round, achieving a valuation of $2 billion. The platform offers an open-source alternative to Firebase, providing a full PostgreSQL database along with various developer tools.
Keep reading to explore the intricacies of Supabase's fundraising journey and the investors backing this innovative platform.
What Is Supabase?
Supabase, founded in 2020 by Anthony Wilson and Paul Copplestone, is an open-source alternative to Firebase. Based in San Francisco, California, the company offers a full PostgreSQL database with real-time and RESTful APIs, authentication solutions, and storage for file uploads.
Supabase's platform is designed to help developers by providing a self-documenting API based on the data inside the Postgres database. The company has grown rapidly and now employs between 101 and 250 people.
With its comprehensive suite of backend services, Supabase aims to simplify the development process, allowing developers to build scalable applications quickly and efficiently.
How Much Funding Has Supabase Raised?
- Seed Round
- Amount Raised: $125K
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their open-source Firebase alternative.
- Seed Round
- Amount Raised: $6M
- Date: December 2020
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $30M
- Date: September 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $80M
- Date: May 2022
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growing user base and expand platform features.
- Series C
- Amount Raised: $80M
- Date: September 2024
- Lead Investors: Craft Ventures, Peak XV Partners
- Valuation at Round: $2 billion
- Motivation Behind the Round: To meet increasing demand, particularly driven by the AI boom.
Supabase has raised a total of $196 million with a current valuation of $2 billion.
Key Investors
- Coatue
- Details: Coatue is a global technology-focused investment firm. It manages both public and private equity funds.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: ByteDance, DoorDash, Snap Inc.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage companies. It was co-founded by David Sacks, a former PayPal executive.
- Investment Focus Areas: Early-stage companies, growth-stage companies, technology sector.
- Notable Investments: Airbnb, SpaceX, Slack.
- Felicis
- Details: Felicis is a venture capital firm that focuses on early-stage technology companies. It was founded by Aydin Senkut, a former Google executive.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Shopify, Fitbit, Adyen.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups. It was founded in 2005 by Paul Graham, Jessica Livingston, Trevor Blackwell, and Robert Tappan Morris.
- Investment Focus Areas: Early-stage startups, technology, healthcare, consumer sectors.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that focuses on high-growth technology companies. It was formerly known as Sequoia Capital India & SEA.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Byju's, OYO, Zomato.
What's Next for Supabase?
Supabase is poised to capitalize on the AI boom, with its support for the pgvector extension driving increased demand. The company is making significant strides with enterprises, powering applications for giants like Meta and Netflix. With over 900,000 sign-ups and 40% of Y Combinator startups using its services, the growth potential is immense.
Future fundraising seems likely given the successful Series C round and the company's upward trajectory. However, challenges such as competition from cloud providers and maintaining service reliability as it scales could pose hurdles. Strategic partnerships and continuous innovation will be key to navigating these challenges.
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