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Prefect Raises $11.5M in Series A Funding to Eliminate Negative Engineering in Dataflow Automation

·3 min read

Prefect attracts elite strategic partners in response to extraordinary demand for its innovative dataflow automation solution

WASHINGTON, Feb. 9, 2021 /PRNewswire/ -- Prefect Technologies, Inc., the new standard in dataflow automation, announced it has raised $11.5M in Series A financing to fuel continued innovation and growth in both its open-source and commercial offerings. Led by Patrick O'Shaughnessy, Partner at Positive Sum, the round includes; Sam Teller, Partner at Valor Equity Partners; Gavin Baker, Chief Investment Officer of Atreides; Nat Friedman, CEO of GitHub, Anthony Goldbloom, CEO of Kaggle; Daniel Gross, Founder of Pioneer, and many others. The funding will enable Prefect to continue innovating its open-core platform, hire world-class engineers, and scale its operations and go-to-market efforts.

Prefect is dedicated to eliminating negative engineering: the frustrating but often necessary work to ensure data pipelines operate as expected. The company's dual products Prefect Core, the fastest-growing data workflow engine, and Prefect Cloud, a complete workflow orchestration platform, have become key drivers for effectively doubling the productivity of data scientists and data engineers. Additionally, the company's innovative Hybrid Model ensures that Prefect never receives its customers' code or data, which has resulted in elevated demand from regulated industries such as healthcare and financial services.

"We have an incredible and unique opportunity to simultaneously develop a global open-source standard while producing an innovative commercial product, fulfilling our vision to eliminate data engineering," said Jeremiah Lowin, Prefect's Founder & CEO. "Our latest financing and the support of our strategic investors and advisors allows us to accelerate programs, partnerships and products that further deliver value to our open-source community and customers."

After an initial public launch last year, Prefect Cloud recently processed its 100-millionth task while Prefect Core became the top trending repo on GitHub with the help of more than 130 open-source contributors. Prefect is now used by thousands of companies to build and orchestrate data workflows. The Series A financing will ensure that Prefect is well-positioned to accelerate this dual growth while continuing to deliver easy-to-deploy solutions to companies of every size and across every industry.

"Prefect is the best way for data engineers and data scientists to orchestrate and automate their dataflows, and we're excited about what this will enable engineering teams to do," said Patrick O'Shaughnessy, Partner, Positive Sum. "Positive Sum is thrilled to lead this round of financing, and share everything we can to help Prefect enable more people to discover the product and build better workflows."

"The Prefect team continues to develop game-changing technology that will revolutionize the way data scientists and data engineers operate on a daily basis," said Anthony Goldbloom, CEO, Kaggle. "As the data scientist community evolves, I am confident Prefect will establish itself as the gold standard for dataflow automation."

This is the first in a series of announcements kicking off Prefect's Liftoff initiative. Today's news will help Prefect focus on scaling its fast-growing open source software while empowering the expansion of Prefect Cloud across the enterprise.

For more information on Prefect, visit: www.prefect.io

Contact:
Hiro Rodriguez
Prefect Technologies
press@prefect.io

About Prefect
Prefect provides a new dataflow automation platform that reduces engineering time and removes headaches for data engineers and data scientists by automating pipelines and workflows of any complexity. Prefect does so without ever seeing its customers' code to ensure privacy and security while providing visibility into what's running and where issues may arise.

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SOURCE Prefect Technologies