Prophecy Raises $25M to Revolutionize Data Engineering with Low-Code Platform

Prophecy Secures $25 Million in Series A Funding

Prophecy, a platform focused on simplifying data engineering through a low-code approach, has announced the successful completion of a $25 million Series A funding round. The investment was spearheaded by Insight Partners, with participation from existing investors SignalFire and Berkeley Skydeck, alongside new contributor Dig Ventures. This latest funding brings the company’s total raised capital to $31 million.

Low-Code Data Engineering at its Core

The Prophecy user experience centers around its low-code environment. This allows both data engineers and analysts to fluidly transition between a graphical user interface and a traditional code editor when constructing data workflows.

This capability facilitates the rapid creation of Apache Spark code, which can then be executed via its integrated Airflow service.

A Unique Approach to Workflow Development

The platform distinguishes itself through its ability to synchronize changes made in either the code or visual interface in real-time. This bidirectional functionality is further enhanced by the option to extend the visual interface with custom components.

Recognizing the prevalence of older systems, Prophecy has also developed a transpiler. This tool enables businesses to modernize their existing ETL workflows.

Addressing the Challenges of Data Management

“The assertion that data is the new oil has been circulating for years, yet many large enterprises still struggle with disorganized data management,” stated Raj Bains, co-founder of Prophecy. “Our aim is to resolve this issue.”

He emphasizes that while companies like Databricks and Snowflake provide the data processing infrastructure, enterprises require additional tools to effectively manage their data, particularly during cloud migration.

Modernizing Legacy Data Pipelines

Many organizations maintain a substantial number of data pipelines operating on-premises. Prophecy provides the necessary tooling to modernize these pipelines and facilitate their migration to the cloud.

“We’ve created a sophisticated compiler that can automatically convert existing data pipelines into new, cloud-compatible versions,” explained Bains. “This allows us to seamlessly transition a large company’s entire data engineering infrastructure to the cloud.”

Early Adoption and Customer Base

Despite being in its early stages, Prophecy already serves a growing number of customers, including several Fortune 500 and 50 companies. These organizations utilize the platform to build and manage their data infrastructure.

Investor Perspective

George Mathew, managing director at Insight Partners, highlighted Raj Bains’ extensive experience at Hortonworks, Nvidia, and Microsoft as a key factor in their investment decision.

“It was evident that Raj and the Prophecy team possessed a deep understanding of the current data systems landscape and the necessary evolution towards a cloud-native approach,” Mathew noted. He also pointed to the increasing volume of data stored in data warehouses and lakes as a crucial market trend.

Future Plans and Investment Focus

Prophecy’s primary focus for the coming year will be refining its product and ensuring customer success in production environments. The newly acquired funding will be allocated towards these efforts, as well as expanding the company’s go-to-market strategy and further developing its full-stack data engineering platform.