Prophecy, a low-code data engineering platform, announced today that it has raised a $25 million Series A round led by Insight Partners. Existing investors SignalFire and Berkeley Skydeck, as well as new investor Dig Ventures, also participated in this round, bringing the company’s total funding to $31 million.
At the heart of the Prophecy user experience is the low-code environment, which allows data engineers and analysts to switch seamlessly between a visual interface and a code editor for building workflows. This interface makes it easy to quickly create Apache Spark code and then run it through the Airflow service.
It’s this ability to switch back and forth between code and the visual interface, with changes on both sides immediately reflected on the other – combined with the ability to extend the visual interface with custom elements as needed – which the team hopes will give a leg up on the market. And since many companies still use legacy tools, Prophecy has also built a transpiler that allows companies to modernize their existing ETL workflows.
“Everyone keeps talking about how data is the new oil. They’ve been talking about it for ten years, but then you go to big corporations and the data management is a mess. So I’m like, we can fix this,” said Raj Bains, co-founder of Prophecy. He states that while Databricks, which partners with Prophecy, and Snowflake are building the processing engines to use the data, enterprises still need a lot of tools. have to do the heavy lifting, especially since they’re making the move to the cloud at the same time.
These enterprises, Bains noted, often sit on tens of thousands of data pipelines running on-premises. So it made sense that Prophecy built the tooling to help them modernize these pipelines and move them to the cloud — and ideally, the platform, of course.
“We wrote this compiler, which is a very advanced tool,” he explained. “It will read their old data pipelines and automatically write these new data pipelines for the cloud and cloud technologies. So we can just take a big company with a huge data engineering footprint […] and we can just move the whole thing through the cloud. As large companies look to the cloud, they are thinking about how to make the switch and how to succeed – and we are working hand in hand with them to make this cloud migration a reality and help them succeed in this new cloud world where it is a totally different ecosystem.”
Despite its early stage, Prophecy’s customers already include a number of Fortune 500 and 50 companies that use it to build and manage their data infrastructure.
Insight Partner’s CEO, George Mathew, noted that there were a number of factors that made him interested in the company, including the background of Bains who previously worked at Hortonworks, Nvidia and Microsoft.
“It was just very clear that Raj and the team at Prophecy really understood what these last generation systems, particularly in the data world, were – and where to go in a cloud-native world and how to make that massive transition possible, especially using a low-code/no-code environment,” Mathew said, noting that the timing was right, given the amount of data many companies are now collecting in their data warehouses and lakes — something that’s only been a few years. ago was not necessarily the case.
As Bains noted, next year will be all about polishing the product and helping its customers succeed in manufacturing. Unsurprisingly, the company plans to use the new funding to do just that, investing in the go-to-market side of its business as it builds out its full-stack data engineering platform.