Prophecy, a Palo Alto, Calif.-based enterprise low-code data engineering platform, raised $25 million in Series A funding.
The round was led by Insight Partners, existing investors SignalFire and Berkeley Skydeck, as well as new investor Dig Ventures also participated in this round, which brings the company’s total funding to $31 million.
The company intends to use the funds to expand its go-to-market team and to further enhance its low-code data engineering platform.
In conjunction with the funding, George Mathew, Managing Director at Insight Partners joined Prophecy’s board.
Company: SimpleDataLabs Inc.
Round: Series A
Funding Month: January 2022
Lead Investors: Insight Partners
Additional Investors: SignalFire, Berkeley Skyde, Dig Ventures
Company Website: https://www.prophecy.io/
Software Category: low-code data engineering platform
About the Company: Led by CEO Raj Bains, Prophecy provides an interface to build, deploy and manage data processing that incorporates software engineering best practices. In addition to developing new workloads, data teams also need to migrate thousands of existing proprietary ETL workloads to the cloud. To address this pain point, the company has developed a patent-pending transpiler that automatically converts AbInitio, Informatica, and other ETL workloads to high-quality Spark code that is imported into Prophecy along with the new workloads. The company’s platform is already used by several Fortune 500 companies to manage data infrastructure across their enterprises.