Supabase Scores $80 Million Series B

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">PLEASANTON<&sol;span><&sol;span> <&sol;strong>&&num;8212&semi; <u><a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3532844-1&amp&semi;h&equals;689763517&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fsupabase&period;com&percnt;2F&amp&semi;a&equals;Supabase" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Supabase<&sol;a><&sol;u>&comma; an open-source Database-as-a-Service &lpar;DBaaS&rpar; company&comma; has raised <span class&equals;"xn-money">&dollar;80 million<&sol;span> in Series B funding led by Felicis&comma; with participation from existing investors Coatue and Lightspeed&period; This latest round follows Supabase&&num;8217&semi;s <span class&equals;"xn-money">&dollar;30 million<&sol;span> Series A round announced in <span class&equals;"xn-chron">September 2021<&sol;span>&comma; and brings the Company&&num;8217&semi;s total capital raised to <span class&equals;"xn-money">&dollar;116 million<&sol;span>&period;<&sol;p>&NewLine;<p>Supabase&&num;8217&semi;s platform enables developers to rapidly develop products without worrying about scaling limitations&comma; with an open source approach to remove vendor lock-in&period; In recent months the Supabase community surpassed 80&comma;000 developers&comma; with many signups from cloud-native&comma; enterprise and Fortune 500 companies&period; Hosted databases have grown 1900&percnt; in 12 months&comma; with over 100&comma;000 databases created&period; This organic growth has been driven by focused feature releases during Supabase Launch Weeks&comma; Hackathons&comma; and improving the developer database experience&period;<&sol;p>&NewLine;<p>With this Series B round&comma; Supabase plans to continue its relentless focus on innovation to support more enterprises&period; The Company also plans to double the size of its team – 20&percnt; of which is currently comprised of former founders – over the next year&comma; with a focus on senior leaders that can help further scale a fully-remote culture driven by engineering&comma; creativity&comma; and autonomy&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Supabase believes that the database market is completely underserved&period; As a critical component of every successful application&comma; database development should be as easy as application development at every stage of a business lifecycle&comma;&&num;8221&semi; said Paul Copplestone&comma; CEO and co-founder of Supabase&period; &&num;8220&semi;This latest round allows us to grow our enterprise support for PostgreSQL hosting&comma; while continuing to support our open source community&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;As we started hitting scale&comma; Supabase has been crucial to supporting our drops&period; When Snoop Dogg debuted on Sound&comma; Supabase helped us to provision our data store to handle the load&comma;&&num;8221&semi; Vignesh Hirudayakanth&comma; CTO of sound&period;xyz&comma; said&period; &&num;8220&semi;Supabase takes out the mental effort from our back-end infrastructure so we can focus on our customers&&num;8217&semi; needs&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;We are super excited to be investing in Supabase and partner with the team on their next phase of growth&comma;&&num;8221&semi; said Aydin Senkut&comma; Founder and Managing Partner of Felicis&period; &&num;8220&semi;Supabase&&num;8217&semi;s team is made up of 20&percnt; former founders and therefore deeply understands the need and pain points for developers to rapidly develop products&period; Supabase truly enables developers to build their applications without repeating the same tedious tasks and manage their application&&num;8217&semi;s database&comma; authentication&comma; storage&comma; and edge functions&period; &&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;Ever since we first met Supabase we had high conviction in the vision and the platform&comma;&&num;8221&semi; said <span class&equals;"xn-person">Caryn Marooney<&sol;span>&comma;&&num;8221&semi; Supabase Board Director and Coatue General Partner&period; &&num;8220&semi;It&&num;8217&semi;s been incredible to see the team&&num;8217&semi;s relentless execution over the last two years&period; Seeing the team&&num;8217&semi;s strong organic traction&comma; we are excited to triple down with Supabase once again&period; The vision continues to expand as Supabase takes on the biggest and most entrenched databases while heeding its North Star &&num;8211&semi; the developer community&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Supabase is the standout company from YC&&num;8217&semi;s Summer 2020 class&comma; one of the fastest growing open-source projects on GitHub with over 30&comma;000 stars and one of fewer than 350 projects to reach this milestone&period;<&sol;p>&NewLine;