Supabase has doubled its estimated valuation to 10 billion dollars in eight months - while most startups struggle to hold on to a single figure. The company raised 500 million dollars in a Series F round, making it a new "decacorn," the term for a startup worth over ten billion. Before that, in October it raised 100 million at a five-billion valuation, and just a few months earlier - 200 million at two billion. The curve climbs so fast you can barely keep up.

What does Supabase actually do? It offers an open-source database, built on the popular Postgres - infrastructure on which developers build their apps without maintaining the backend themselves. It's growing because "vibe-coding" tools, that is creating software via AI, have exploded. The number of databases launched through Supabase jumped over 600 percent in a year, and over 60 percent of them were spun up through some AI tool.

The users? Close to 10 million developers, a figure doubled in eight months. CEO and co-founder Paul Copplestone credits tools like Claude Code and Codex, because they "expand the number of people who can build." Supabase is also the database behind Bolt, Figma, Lovable, Replit and other well-known names.

The philosophy behind the company is interesting too. Copplestone openly refused to join the "courting" of developer tools - he doesn't want to please big corporations that offer million-dollar deals and then dictate what the product should look like. He sticks to his own vision, the opposite of what most startups do. It's hard to argue with the result, but it's worth remembering that any valuation doubling every few months must one day find a floor - the only question is whether that floor comes soon or only once the AI euphoria cools.

The round was led by GIC, with participation from existing investors like Stripe and new names like Georgian and Salesforce Ventures. The money comes in, the users grow - but in an industry where value is measured as much in hope as in revenue, the ten-billion figure is as much a forecast as a fact.