Prefect secures $32 Million in latest funding to further innovate its dataflow automation solution

Prefect Technologies Inc., a leader in dataflow automation, announced it received $32 million in Series B funding, enabling the company to further innovate its dataflow automation platform, build out its team, and more.

This latest funding round was led by Tiger Global with participation from new investor Bessemer Venture Partners, existing investor Positive Sum and others.

“Our mission is to help data engineers and data scientists eliminate negative engineering by delivering a world-class orchestration tool for today’s modern data stack,” said Jeremiah Lowin, founder and CEO of Prefect. “With this new round of financing, we are well-positioned to scale our open-source and commercial offerings to better serve our users and innovate our platform for years to come.”

Prefect combines the convenience of the cloud with the security of on-prem to meet the needs of companies looking to quickly deploy, monitor, and manage their workflows.

Since the company’s inception, Prefect has helped companies from every industry, including financial services, healthcare, technology, insurance, higher-education, and more, recognize the direct bottom line benefits of being able to quickly deploy, scale, and easily orchestrate their workflows.

Prefect’s hybrid model means it never receives customer data, ensuring customer code and data is completely private while still delivering an on-prem security experience. This has led a number of companies who have historically rejected traditional SaaS offerings to realize the benefits of Prefect across their organization, according to the vendor.

This funding marks the second round of investment that Prefect has announced in 2021, with the company’s Series A round that totaled $11.5M in February 2021. This new round brings Prefect’s total raised capital to $46.7M.

For more information about this news, www.prefect.io.