Supabase raises $500M at $10.5B valuation in Series C

Supabase, the open-source PostgreSQL platform, closed a $500M Series C funding round at a $10.5B valuation, capitalizing on developer momentum around AI-native databases. The round reflects strong demand from enterprises modernizing backend infrastructure for agentic and LLM workloads.

Supabase competes in the crowded vector-DB and serverless-Postgres space but has gained traction for offering managed open-source alternatives to AWS/GCP. The valuation jump signals investor confidence in open-source infrastructure plays during the AI cycle.