The startup from New Zealand has now completed an impressive Series D funding round of $200 million. This milestone instantly raises its post-money valuation to a jaw-dropping $2 billion. Accel’s lead on this funding round is a notable milestone for the company. Since launching in 2020 by Paul Copplestone, the company has quickly found success with the growth of the use of autonomous technology. Only seven months earlier, Supabase had raised that same amount—$80 million—in a round led by Peak XV and Craft Ventures.
In addition to Accel, other key players in this most recent funding round included Coatue, Y Combinator, Craft Ventures and Felicis. The investment will accelerate Supabase’s mission. Their goal is to provide developers a proven platform which allows them to develop the greatest applications quickly and efficiently.
Supabase’s marketing tagline, “build in a weekend: scale to millions,” encapsulates its commitment to empowering developers. The company pairs the powerful, open-source SQL database Postgres with a set of other enterprise-grade, open-source tools. From authentication to auto-generated APIs, file storage and a new vector toolkit, its myriad features are all designed to simplify and accelerate the development process.
The new platform attracted a community of more than 1.7 million developers, adding thousands each day. This rapid expansion is a testament to the growing need for more efficient back-end solutions in the world of software development. Supabase is the clear favorite among developers. Plus, it provides an easy-to-use and scalable back end that takes the complexity out of building applications.
Aydin Senkut, managing partner at Felicis, noted the platforms increasing importance within the tech sector.
“It’s becoming the default back end for AI apps and myriad other categories of apps.” – Aydin Senkut, Felicis managing partner
And if you want to talk about insane growth, over the past 2 years, Supabase has had it. Including this round, the company has raised a total of just under $398 million since its founding. Now with more than 81K stars on GitHub, Supabase has continued to grow their support and popularity with the developer community.
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