News Summary

Supabase, an open source database service, has achieved a significant milestone by reaching a $5 billion valuation following its recent $100 million Series E funding round led by Accel and Peak XV. This valuation comes just four months after its $2 billion valuation, highlighting a rapid increase in financial backing. Founded in 2020 by Paul Copplestone and Ant Wilson, Supabase provides a Postgres-based open source alternative to Google’s Firebase, simplifying database setup with features like authentication and auto-generated APIs. It has become a popular backend choice for vibe-coding tools and AI apps, attracting a community of 4 million developers. Notably, Supabase is offering stock purchase options to its community members as part of this funding round.