Prophecy raises $35M to Advance Low-Code Data Transformation Platform

In the fast-changing landscape of data engineering, enterprises are increasingly looking for efficient and scalable solutions to manage complex data pipelines. Prophecy, a leading player in this domain, has been at the forefront of providing AI-powered data transformation tools that streamline data workflows. The recent infusion of $47 million in Series B extension funding underscores the company’s commitment to advancing its platform and expanding its market presence.

Company Overview

Prophecy specializes in data transformation and analytics acceleration operating within the scope of data engineering and cloud computing. The low-code platform lets customers build, deploy, and observe pipelines around their data pipelines while making maximum use of artificial intelligence to deliver greater productivity gains for data consumers. Prophecy solutions help each of the varied roles-data engineers, business data teams, as well as the leaders of a data platform-from accelerating the overall lifecycle of their data pipeline.

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Funding Detail

Prophecy’s $47 million Series B extension was led by Smith Point Capital, with new investor HSBC and existing investors Berkeley SkyDeck, DallasVC, Insight Partners, JPMorgan Chase, and SignalFire. The round brings Prophecy’s total funding to over $100 million, a reflection of the company’s vision and growth trajectory, which has built strong investor confidence.

• Revenue Growth: Prophecy reported a 3.5x increase in revenue for the fiscal year 2024, evidencing strong adoption of its platform across different industries.
• Customer Retention: The company achieved 160% net revenue retention from existing customers, which was testament to great satisfaction and continued reliance on Prophecy’s solutions.
• Product Innovation: With the new funding, Prophecy plans to accelerate the development of its AI-powered data engineering tools, enhancing features that enable seamless data pipeline creation and management.

Leadership Team

Prophecy’s leadership comprises experienced professionals dedicated to driving innovation in data engineering:

• Raj Bains: Founder and CEO, leading the company’s strategic vision and growth initiatives.
• Vikas Marwaha: Co-founder, contributing to product development and operational excellence.
• Maciej Szpakowski: Co-founder with interests in technology development and scalable platforms.

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Market Position and Future Prospects

Working in the domains of data engineering and cloud computing, Prophecy is best positioned to exploit the ever-growing demand for efficient data transformation solutions. The company’s AI-based platform deals with the complexity of modern data workflows by enabling enterprises to speed up analytics and extract actionable insights. 

Prophecy plans to utilize the recent funding to scale up its market penetration, further develop research and development, and continue delivering innovative solutions that will address the growing needs of data-driven organizations.

Summary

The data transformation leader, Prophecy, has bagged $47 million in the Series B extension led by Smith Point Capital. The funding focuses on enhancing the AI-driven data engineering solutions based on a revenue growth of 3.5x in FY’24 and 160% net revenue retention from existing customers.