Prophecy, the trailblazing self-service data transformation platform, has achieved a significant milestone by closing its Series B funding round, raising an impressive $35 million. The round was led by Insight Partners and SignalFire, with major investor J.P. Morgan joining the ranks.
This funding brings Prophecy’s total funding to $67 million and showcases the industry’s confidence in the company’s innovative approach to data transformation.
Raj Bains, CEO, and founder of Prophecy, expressed his excitement, stating, “With thousands of users across Fortune 500 organizations, Prophecy has unequivocally proven the demand for a complete, enterprise-grade data transformation platform over the fragmented modern data stack. Our unique approach unifies visual and code development and is the future of data transformation.”
Prophecy’s technology addresses two critical imperatives essential for scale. Firstly, its visual interface caters to a vast number of data users, particularly those in the line of business. Secondly, the visual interface generates high-quality code, enabling data teams to adhere to best software practices, ensuring the delivery of trustworthy data.
In this funding round, Prophecy welcomes Herb Cunitz, an independent board member and former President of Hortonworks, and Elena Zislin, Managing Director for J.P. Morgan, as a board observer. They join Ilya Kirnos from SignalFire, who recognized the product’s potential early on, and George Mathew from Insight Partners, an experienced executive in the enterprise data space.
Mathew, a seasoned builder in the enterprise data markets, expressed his enthusiasm, stating, “Having been a builder in the enterprise data markets, I’ve seen many companies struggle in managing and activating their data. Prophecy continues to grow exponentially, and we’re excited to be investing again to accelerate the company’s growth, at a time when many enterprises are doubling down on their data capabilities.”
As the data landscape evolves and enterprises increasingly focus on becoming data-centric, Prophecy’s growth potential is substantial. With strategic partnerships already in place, Prophecy is poised to make a significant impact in the new data-centric era, further solidifying its position as a leading force in the data transformation arena.
