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Fremont, CA: No-code/low-code tools empower a large number of people to create solutions with no or little technical knowledge. These tools benefit businesses in a variety of ways, including cost reduction and scaling.
Prophecy, the enterprise low-code data engineering platform that brings the speed of DevOps to data engineering, has raised a $25 million Series A round led by New York-based global venture capital and private equity firm Insight Partners, with active participation from seed investors SignalFire and Berkeley Skydeck, as well as Dig Ventures. The company has now raised over $31 million in funding.
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Prophecy provides an user-friendly visual interface for building, deploying, and managing data processing that incorporates best practices in software engineering. A number of Fortune 500 companies already use the company's platform to manage data infrastructure across their enterprises. Prophecy will use the funds to grow its go-to-market team and improve its low-code data engineering platform.
From his time at Hortonworks, Prophecy co-founder and CEO Raj Bains witnessed firsthand how data engineers struggle with big data platforms. Because today's cloud platforms only provide data processing engines, data teams have been compelled to build their own infrastructure, each with its own set of internal data tools and frameworks. The Prophecy team found an opportunity to provide an advanced data engineering platform for all companies by combining the latest in visual and code development with compilation and tooling expertise from years of collective experience at Microsoft as well as the NVIDIA CUDA team.
"The fundamental problem is that data tooling hasn't changed much over the past decade. Data is the new oil, but it needs to be refined into the fuel that powers machine learning and business analytics. This refining is currently an artisanal process driven by data engineers and custom scripts that is failing to fulfill real business outcomes," remarked Bains. "Prophecy is on a mission to industrialize data refining by combining robust engineering, standardization and high-volume production. With this recent Insight investment, we will make the platform widely accessible and advance the boundaries of what's possible in data engineering."
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