supabase, investments, news, singapore, amazon

Supabase, a Singapore-based open-source database-as-a-service (DBaaS) company, announced Tuesday that it has raised $80 million in Series B funding led by Felicis, with participation from existing investors Coatue and Lightspeed.

This latest round follows Supabase’s $30 million Series A round announced in September 2021, and brings the company’s total capital raised to $116 million, Supabase said in a statement.

With this Series B round, Supabase plans to continue its relentless focus on innovation to support more enterprises. The company also plans to double the size of its team – 20 percent of which is currently comprised of former founders – over the next year, with a focus on senior leaders that can help further scale a fully-remote culture driven by engineering, creativity, and autonomy.

“Supabase believes that the database market is completely underserved. As a critical component of every successful application, database development should be as easy as application development at every stage of a business lifecycle. This latest round allows us to grow our enterprise support for PostgreSQL hosting, while continuing to support our open source community,” said Paul Copplestone, Chief Executive Officer and Co-Founder of Supabase.

Founded by Paul Copplestone and Ant Wilson, Supabase is building an open-source database-as-a-service platform to help developers build their applications without repeating the same tedious tasks. Developers use Supabase to manage their application’s database, authentication, storage, and edge functions.

Supabase’s platform enables developers to rapidly develop products without worrying about scaling limitations, with an open source approach to remove vendor lock-in. In recent months the Supabase community surpassed 80,000 developers, with many signups from cloud-native, enterprise and Fortune 500 companies.

Hosted databases have grown 1900 percent in 12 months, with over 100,000 databases created. This organic growth has been driven by focused feature releases during Supabase Launch Weeks, Hackathons, and improving the developer database experience.

“We are super excited to be investing in Supabase and partner with the team on their next phase of growth. Supabase’s team is made up of 20 percent former founders and therefore deeply understands the need and pain points for developers to rapidly develop products. Supabase truly enables developers to build their applications without repeating the same tedious tasks and manage their application’s database, authentication, storage, and edge functions,” said Aydin Senkut, Founder and Managing Partner of Felicis.

Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. It focuses on early stage investments and currently manages over $2.1 billion in capital across eight funds.

The firm is an early backer of more than 41 companies valued at $1 billion+. More than 91 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park, California.

“Ever since we first met Supabase we had high conviction in the vision and the platform. It’s been incredible to see the team’s relentless execution over the last two years. Seeing the team’s strong organic traction, we are excited to triple down with Supabase once again. The vision continues to expand as Supabase takes on the biggest and most entrenched databases while heeding its North Star – the developer community,” said Caryn Marooney,” Supabase Board Director and Coatue General Partner.

TECH NEWS RELATED

Choco Up partners with Shoplazza to transform the financing landscape for DTC e-commerce merchants

Choco Up, a global technology and financial services platform offering revenue-based financing and growth solutions for digital merchants and startups, today announced its partnership with Shoplazza, a global e-commerce Software as a Service (SaaS) platform. Together, their collaboration will provide quick and accessible business growth funding for Shoplazza’s direct-to-consumer ...

View more: Choco Up partners with Shoplazza to transform the financing landscape for DTC e-commerce merchants

This Johnny Depp movie just hit the top 10 on Netflix

Charlie and the Chocolate Factory is Netflix's 10th most popular movie

View more: This Johnny Depp movie just hit the top 10 on Netflix

D2C skincare brand Ras Luxury Oils raises $2 million funding from Sixth Sense

ETtechMumbai: Ras Luxury Oils, a direct to consumer (D2C) luxury skincare and personal care brand, has raised $2 million in a funding round from Sixth Sense Ventures, the company said.It said it would use the funds to develop and launch new product categories, expand deeper into marketplaces, and establish an ...

View more: D2C skincare brand Ras Luxury Oils raises $2 million funding from Sixth Sense

Hyundai Grand i10 Nios Corporate Edition Launched; Prices Start From Rs 6.29 Lakh

The new Grand i10 Nios Corporate Edition gets added features for the extra cost Hyundai has launched a new Corporate Edition of the Grand i10 Nios with prices starting at Rs 6.29 lakh (ex-showroom, India). Based on the Magna variant of the Nios, the Corporate Edition is priced at ...

View more: Hyundai Grand i10 Nios Corporate Edition Launched; Prices Start From Rs 6.29 Lakh

PM Modi Meets Suzuki Advisor Osamu Suzuki, Discuss Investment, Innovation For India

(L-R) Suzuki Motor Corporation Advisor Osamu Suzuki with Prime Minister Narendra Modi. Indian Prime Minister Narendra Modi is in Japan on a two-day visit to attend a summit of the Quad leaders and met Suzuki Motor Corporation Advisor Osamu Suzuki to discuss opportunities in investment, innovation, manufacturing of electric ...

View more: PM Modi Meets Suzuki Advisor Osamu Suzuki, Discuss Investment, Innovation For India

Ola S1 Pro Electric Scooter Price Hiked by ₹ 10,000

Ola Electric has increased the price of the electric scooter by Rs. 10,000 Ola Electric, which recently opened its latest purchase window for the S1 Pro electric scooter has also increased the vehicle. The company has increased the price of the electric scooter by ₹ 10,000, which effectively takes ...

View more: Ola S1 Pro Electric Scooter Price Hiked by ₹ 10,000

FCA chair warns against ‘speculative crypto tokens’ with ‘no underlying value’

The UK’s Financial Conduct Authority (FCA) chair has questioned the legitimacy of speculative crypto tokens and highlighted the challenges facing the watchdog in regulating the cryptocurrency sector. In a speech given on Friday, FCA chair Charles Randell expressed scepticism about “speculative crypto tokens”. Cryptoassets have been a hot topic ...

View more: FCA chair warns against ‘speculative crypto tokens’ with ‘no underlying value’

Special Edition Porsche Taycan GTS revealed to commemorate Hockenheimring Racetrack 

To celebrate the 90th anniversary of the famed Hockenheimring race track, Porsche has introduced the first special edition of their electric performance car, the Taycan GTS Hockenheimring Edition.  The car is painted in a unique colour called Stone Grey – the first time in a Taycan – and was developed ...

View more: Special Edition Porsche Taycan GTS revealed to commemorate Hockenheimring Racetrack 

Can Subsea Cables Detect Earthquake? UK Researchers Claim It’s Possible Through Making Seafloor Sensors!

BRIM Biotechnology, Inc. and Ora, Inc. Announce New Partnership to Accelerate the Development of Regenerative Peptide Therapy, BRM421 for Dry Eye Syndrome

Thynk Health Welcomes Jim Farmer as Senior Vice President of Sales

Broadcom reportedly looking at acquiring cloud company VMWare

ICO hands out £7.5m fine for Clearview AI

China's FAST initially detects new phenomenon of 'Black Widow' pulsars

Apple looks to move more production out of China: report

Tropical Island Adventure Tchia Has Been Delayed Till 2023

New traffic lights for Cape Town

Windows 11's nifty new search feature has one major downside

Nissan’s first fully-electric ‘kei car’ looks as heart-warming as its name

Malaysian Finance Minister rejected telcos' proposal on DNB equity, intends to stand by 30 June deadline

OTHER TECH NEWS

Top Car News Car News