Open Source App Development Software Company Supabase Raises $6 Million in Funding

By Elijah Labby Wednesday, January 6, 2021

The importance of mobile apps cannot be overstated. Millions of people, both in the United States and abroad, use mobile apps every day for myriad reasons. Mobile apps can be used to track health data, keep tabs on your obligations, or make arrangements at a popular restaurant when you’re not sure there will be enough seats.

Likewise, developing these applications is a crucial step for owners of both small businesses and large companies. However, many of these business owners lack the resources that were once needed to build and scale an app.

Companies like Supabase want to change that. Supabase is an open-source alternative to Google’s Firebase app development software that allows you to work with a variety of different tools, all within the same application. The goal, Supabase co-founder and CEO Paul Copplestone told TechCrunch, is not to create a system designed to replace Firebase or other competitors, but rather to create increased functionality within the program. In other words, Supabase does what it can and leaves the rest to you to do elsewhere.

“So actually right now, Supabase is an amalgamation of six tools, soon to be seven. Some of them we built ourselves,” said Copplestone. “If we go to market and can’t find anything that we think is going to be scalable — or really solve the problems — then we’ll build it and we’ll open-source it. But otherwise, we’ll use existing tools.”

The entirely-remote startup intends to charge for the service in the future, but the current beta version is free. The idea is to give customers a taste of what Supabase offers, and, hopefully, they will come back for more once the platform is officially launched.

The company admits that they will have some difficulty competing with Firebase (given its parent company’s size), but one factor working in the startup’s favor is the funding it recently raised.

Funding the Startup

Recently, Supabase managed to raise $6 million in a round of funding led by investment manager Coatue and contributed to by startup accelerator Y Combinator, as well as Mozilla and a number of angel investors.

Caryn Marooney, who is a general partner at Coatue and was once Facebook’s former VP of Global Communications, said Supabase’s focus on scalability and speed was what intrigued her and her partners at Coatue.

“Supabase’s value proposition of building in a weekend and scaling so quickly hit home immediately,” she said. “We are proud to work with this team, and we are excited by their laser focus on developers and their commitment to speed and reliability.”

This money will go a long way to help the startup develop its product before its official rollout and support their developers to ensure that its capabilities are sufficient to convince the customer to choose Supabase over its competitors.

A Look at the Numbers

The market for Supabase’s product is strong, which could help the company grow in the years to come. According to the UK-based market research firm Market Research Future, the mobile app development market is growing at a compound annual growth rate of approximately 14% and is expected to hit a valuation of $100 billion by 2022.

Market Research Future attributes this growth in large part to the enormous penetration of smartphone technology, internet of things (IoT)-enabled devices, and other technological advancements into mainstream society. Put simply, millions of people in the US, the UK, and beyond are using mobile phones consistently in their daily lives.

What’s more, developing markets like India, South America, and Africa provide huge opportunities for developers to capitalize on the growing industrialization of these regions.

This has the potential to make Supabase’s offering more important than ever. If the startup is able to seize on this growth and carve out a place for itself in the market, Supabase has the potential to become a key player in the mobile app development industry.

About the Author

Headshot for author Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

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