GIC

Supabase Raises $500M Series F at $10B Valuation

Supabase announced a $500 million Series F round at a $10 billion pre-money valuation (about $10.5 billion post-money), marking another rapid valuation increase for the open-source Postgres-based backend. The company says usage grew over 600% in the past year and now serves nearly 10 million developers, a figure that doubled in eight months; it attributes much of the recent growth to AI-assisted development (over 60% of new databases launched by AI tools). Supabase this week also launched Multigres, a tool to simplify running Postgres at scale (managing replicas, failovers, connections, backups). The round was led by GIC, with participation from existing investor Stripe and new investors Georgian and Salesforce Ventures. CEO and co-founder Paul Copplestone announced the raise in a company blog post.

Ramp Raises $750M at $44B Valuation

Ramp announced a $750 million funding round that values the company at $44 billion, a roughly 38% step-up, in a round led by ICONIQ, GIC and Ontario Teachers’ Pension Plan. CEO Eric Glyman said Ramp has crossed $1 billion in annualized revenue and reached positive free cash flow. The New York-based spend-management and payments company serves about 70,000 customers (including Visa, Uber, Shopify, Anduril and Figma) and has expanded into payments, fraud detection, procurement, vendor management and accounting. Demand is being driven in part by corporate efforts to rein in rising AI-related “token” spending; Ramp offers products to monitor token spend and route tasks to lower-cost AI models. Glyman warned CFOs often didn’t plan for steep AI cost growth and said the era of “tokenmaxxing” is waning. Ramp said it ultimately aims to go public but gave no timetable.

Supabase Raises $500M at $10.5B Valuation

Supabase, a database and backend platform used to build AI applications, raised $500 million in a funding round that values the company at $10.5 billion including the new capital. The round was led by GIC and included investors such as Accel, Y Combinator, Craft, Felicis, Coatue and Stripe. Supabase, founded in 2020 by CEO Paul Copplestone and CTO Ant Wilson, provides Postgres-based backend tooling and has grown to about 250,000 customers and roughly 350 employees. The company said AI-assisted coding tools (notably Anthropic’s Claude Code and OpenAI’s Codex) now generate the majority of databases on its platform. Supabase also previewed a new scaling tool called Multigres aimed at supporting very large deployments.