Database Startup Supabase in Talks to Raise $500M at a $10B Valuation, Five Times Its Value From a Year Ago

Supabase, a San Francisco-based database management startup, is in talks with Singapore's GIC to lead a roughly $500 million funding round at a $10 billion valuation, double what it raised at last fall and five times its $2 billion valuation from a year ago. The company has benefited directly from the AI coding boom, as vibe coding platforms like Cursor and Lovable need databases to support the apps their users build, driving Supabase's annualized revenue from $20 million to roughly $70 million between mid-2024 and mid-2025. Supabase competes with Google's Firebase and builds on PostgreSQL with a freemium model, offering free tiers for basic use and monthly fees for larger storage needs.