Prophecy raises $25M to fund its low-code data engineering platform

Image By

Prophecy, an low-token data engineering platform for the blockchain, today announced that it raised $25 million in a round led by Insight Partners. The round included existing investors SignalFire, Berkeley Skydeck, and Dig Ventures. This brings the total company funding to $31million.

Prophecy’s low code environment is at the heart of Prophecy’s user experience. This allows analysts and data engineers to seamlessly switch between the code editor and the visual interface to create workflows. This interface allows you to quickly create Apache Spark code, and then run it through the Airflow service.

The team hopes that this ability to switch between the code and visual interface will allow it to gain an advantage in the market. Prophecy also created a switch to allow companies to update existing ETL workflows, as many organizations still use legacy tools.

“Everyone keeps talking to how data is the new fuel. It’s been a topic for over a decade. But when you get to the top organizations, data management can be a nightmare,” Raj Pines, Prophecy co-founder, said. He believes that even though Databricks has partnered with Prophecy and Snowflake to build processing engines for data, organizations still require a lot more tools, especially as they move towards the cloud.

Baynes pointed out that these companies are often dependent on tens to thousands of data pipes that are still running on premises. Prophecy therefore decided to create the tools necessary to modernize these data pipelines and move them to the cloud. This platform is Prophecy’s ideal one.

He explained that the compiler was written by him and is a complex tool. “Old data pipes will automatically read and create these data pipelines for cloud or cloud technologies. We can easily acquire large companies with large data engineering footprint and then move them all to the cloud. Large companies start to look at the cloud. They think about the steps to take and how to succeed. We’re here to help them make the transition and succeed in the new cloud environment.

Prophecy Client

Prophecy is still in its infancy but already has a large client base of Fortune 500 and 50 companies who use it to manage and build their data infrastructure.

George Matthew, Insight Partner’s managing director, stated that there were many factors that attracted him to the company. These included Bains’ experience working for Microsoft, Nvidia, and Hortonworks.

Matthew stated, “It was clear that Raj, and the team from Prophecy, really understood this latest generation system, particularly in data – and where they needed go in the cloud native world and how they could make this massive transition with the use code-based environment.” Low/No code. He also pointed out that the timing was perfect, considering the volume of data that many organizations have in their data lakes and warehouses – something that wasn’t always the case just a few decades ago.

Bains explained that next year will be all about improving the product and helping customers in production. The company intends to use the funding to accomplish this and to invest in the go to market side of its business, as it develops its entire data engineering platform.

Leave a Reply

Your email address will not be published. Required fields are marked *