Open source Postgres platform Supabase has completed a $150 million financing round, valuing the company at $10.65 billion, and announced the acquisition of database company Turso, which focuses on agent-based load. The acquisition price was not disclosed.

This round was led by Singapore's sovereign fund GIC, with participation from Alphabet's CapitalG, IronArc, and SquarePeg. This comes about four months after the previous round. The June Series F report indicated $500 million raised, with a post-money valuation of approximately $10.5 billion, also led by GIC. The new funds will be used for product development of agent databases and employee liquidity; the founders noted the latter as a condition for retaining engineers.

CEO Paul Copplestone stated that the past year has seen the fastest growth in the company's history. The platform adds over 1 million new users each month and over 4 million new databases, about 70% of which are created by agents or other AI tools. In June, the company reported a 600% year-on-year increase in database numbers, with agents accounting for the majority of new databases. The official blog also noted that over 1 million databases are launched weekly. The paid tier includes login, backup, scheduled data, and vector embedding, and provides MCP servers for external agents to read and modify records.

Turso rewrites SQLite in Rust, allowing a single server to manage millions of databases, loading them on demand and suspending them when idle, thus creating databases as needed without requiring a dedicated machine each time. The existing Turso cloud continues to operate, and the Postgres route remains unchanged. Founder Glauber Costa will lead the agent services, with co-founder Pekka Enberg and the team joining. Public clients include Superhuman, Mastra, Sauna.ai, and CTO.new. Costa stated the goal is to provide customers with up to a billion databases.

Copplestone wrote that agents are generating millions of databases for prototypes, exploration, dashboards, and applications, a scale that requires new database infrastructure. Y Combinator congratulated Copplestone and Ant Wilson, citing over 13 million developers using Supabase as their application backend. A link included in the post points to another report on data center bonds, which is not related to this financing round.

The buyers are GIC and CapitalG, who aim to dominate the agent database infrastructure, while the seller, Supabase, is monetizing employee shares and integrating SQLite's on-demand architecture. The event is driven by coding agents transforming database creation from manual input to programmatic calls. Part of the funding goes into product development, and part is allocated for employee liquidity, not all directed towards capital expenditures. Beneficiaries include backends that can bill each agent as a database; traditional hosting, which allocates a database per human project and cannot handle 4 million new databases monthly, is under pressure. The valuation increased from approximately $10.5 billion to $10.65 billion, a smaller rise than the growth rate in usage.

Source: Public Information