Supabase, an open-source backend platform, has secured $500 million in Series F funding, valuing the company at $10.5 billion. The funding round was led by GIC, with participation from existing investors like Accel and Y Combinator, as well as new investors including Stripe. A significant trend observed on the platform is that AI tools are now initiating 60% of new databases, indicating a growing reliance on AI for development workflows. AI
IMPACT AI tools are driving a majority of new database creations on Supabase, suggesting a shift towards AI-assisted development.
RANK_REASON Significant funding round for a well-known AI-adjacent company.
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