Database startup Supabase notches $5 billion valuation in funding round

Open-source database startup Supabase said on Friday it has secured a valuation of $5 billion in its latest funding round, as investors continue to back companies riding the wave of the artificial intelligence boom.

The $100 million Series E funding was led by venture capital firms Accel and Peak XV. Figma Ventures and other investors also participated in the round.

Supabase is a backend platform that helps developers build applications quickly and has benefited from the rise in AI-powered coding assistants.

The platform is built on the PostgreSQL…