Overview

Prefect provides a platform for automating and managing data workflows, primarily targeting software developers, data engineers, and IT teams. The platform allows users to define their workflows through an easy-to-use interface and deploy them across various environments, such as Kubernetes. This flexibility helps users manage complex data and AI tasks without needing to navigate the complexities of the underlying infrastructure. Prefect offers both free and paid plans, with the free tier suitable for small projects and the paid plans designed for larger teams with advanced needs, including production workflows and security requirements. Key features include encrypted storage for configuration data, customizable parameters, and detailed logging, ensuring secure and efficient workflow management. Prefect's goal is to streamline data workflow management for businesses of all sizes, making it a scalable solution in the data management and automation market.

Simplify's Take

What believers are saying

• Partnership with Snowflake enhances enterprise dataflow automation capabilities.
• Appointment of Adam Azzam as AI Product Lead boosts AI-focused platform development.
• Growing hybrid cloud adoption expands Prefect's orchestration services across multiple environments.

What critics are saying

• Increased competition from emerging data orchestration platforms threatens market share.
• Rapid AI and machine learning evolution may outpace Prefect's current offerings.
• Reliance on cloud services exposes Prefect to potential outages and security breaches.

What makes Prefect unique

• Prefect offers a cloud-based service simplifying data workflow deployment and monitoring.
• The platform supports integration with environments like Kubernetes for flexible workflow management.
• Prefect provides encrypted storage and detailed logging for secure and efficient data workflows.

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Funding

Total Funding

$42.3M

Below

Industry Average

Funded Over

3 Rounds

Notable Investors:

Bessemer Venture PartnersTiger Global

Notable Investors:

Bessemer Venture PartnersTiger Global

$32,000,000

Series B

Jun 2021

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Meet Average

Industry standards

Ind Avg. $35M

$4M

$30M

$32M

$45M

$65M

$100M

View all funding stages