Prophecy offers a platform for building, deploying, and managing data pipelines. Credit: Markus Spiske/Unsplash.

Prophecy, a self-service data transformation startup, has raised $35m in a Series B funding round to scale its platform.

The round was led by Insight Partners and SignalFire.

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Banking giant JP Morgan joined the round as major investor alongside new backers such as Singtel Innov8, DallasVC, and Databricks Ventures, a unit of software company Databricks.

Co-founded by Raj Bains and Vikas Marwaha, Prophecy offers a platform for building, deploying, and managing data pipelines.

Customers can utilise the platform’s visual drag-and-drop interface to create code-based data pipelines.

It also offers a solution called Data Copilot, which is powered by generative artificial intelligence (AI) and organisation-specific knowledge graph.

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Data Copilot is said to be capable of creating data transformation pipelines using natural language prompts.

In an email interview, Bains told TechCrunch that the funding, which takes the total investment raised to $67m, will be used to scale Prophecy’s platform and support its customer acquisition initiative.

Commenting on the investment, Bains said: “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.”

Databricks SVP, corporate development and product partnerships Chris Hecht said: “Prophecy has been a tremendous partner for Databricks and for enterprises using our platform. Their self-service data transformation platform unlocks value from the lakehouse more quickly, making our investment in their Series B a natural next step for our relationship.

“As Raj and the team continue to build and scale their platform for enterprises, we look forward to collaborating with them and growing our partnership even further.”

In September 2023, Databricks, which is focused on developing AI tools, was valued at $43bn following a $500m funding round.

T. Rowe Price led the funding round, which was joined by NVIDIA and Capital One Financial Corp.