Supabase Announces $80 Million Series B Led by Felicis

Open-source database company to focus on Enterprise expansion and continue improving database development experience.

PLEASANTON, Calif., May 10, 2022 /PRNewswire/ -- Supabase (the "Company"), the open-source Database-as-a-Service (DBaaS) company, today announced that it has raised $80 million in Series B funding led by Felicis, with participation from existing investors Coatue and Lightspeed. This latest round follows Supabase's $30 million Series A round announced in September 2021, and brings the Company's total capital raised to $116 million.

Supabase's platform enables developers to rapidly develop products without worrying about scaling limitations, with an open source approach to remove vendor lock-in. In recent months the Supabase community surpassed 80,000 developers, with many signups from cloud-native, enterprise and Fortune 500 companies. Hosted databases have grown 1900% in 12 months, with over 100,000 databases created. This organic growth has been driven by focused feature releases during Supabase Launch Weeks, Hackathons, and improving the developer database experience.

With this Series B round, Supabase plans to continue its relentless focus on innovation to support more enterprises. The Company also plans to double the size of its team – 20% of which is currently comprised of former founders – over the next year, with a focus on senior leaders that can help further scale a fully-remote culture driven by engineering, creativity, and autonomy. 

"Supabase believes that the database market is completely underserved. As a critical component of every successful application, database development should be as easy as application development at every stage of a business lifecycle," said Paul Copplestone, CEO and co-founder of Supabase. "This latest round allows us to grow our enterprise support for PostgreSQL hosting, while continuing to support our open source community."

"As we started hitting scale, Supabase has been crucial to supporting our drops. When Snoop Dogg debuted on Sound, Supabase helped us to provision our data store to handle the load," Vignesh Hirudayakanth, CTO of sound.xyz, said. "Supabase takes out the mental effort from our back-end infrastructure so we can focus on our customers' needs."

"We are super excited to be investing in Supabase and partner with the team on their next phase of growth," said Aydin Senkut, Founder and Managing Partner of Felicis. "Supabase's team is made up of 20% former founders and therefore deeply understands the need and pain points for developers to rapidly develop products. Supabase truly enables developers to build their applications without repeating the same tedious tasks and manage their application's database, authentication, storage, and edge functions. "

"Ever since we first met Supabase we had high conviction in the vision and the platform," said Caryn Marooney," Supabase Board Director and Coatue General Partner. "It's been incredible to see the team's relentless execution over the last two years. Seeing the team's strong organic traction, we are excited to triple down with Supabase once again. The vision continues to expand as Supabase takes on the biggest and most entrenched databases while heeding its North Star - the developer community."

Supabase is the standout company from YC's Summer 2020 class, one of the fastest growing open-source projects on GitHub with over 30,000 stars and one of fewer than 350 projects to reach this milestone.

About Supabase
Supabase is building an open-source Database-as-a-Service platform to help developers build their applications without repeating the same tedious tasks. Developers use Supabase to manage their application's database, authentication, storage, and edge functions. Supabase's growth is completely organic, driven by their commitment to developing new features to upgrade the database development experience.

Paul Copplestone and Ant Wilson founded Supabase, and they work with a globally remote team to deliver a secure, stable, and scalable system. Both are 3-time founders.

About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early stage investments and currently manages over $2.1B in capital across 8 funds. The firm is an early backer of more than 41 companies valued at $1B+. More than 91 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park, CA. Learn more at www.felicis.com.

SOURCE Supabase

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