The $5.2M Seed round, was co-led by NextView Ventures and us, with participation from Y Combinator, Script Capital, and a few angel investors. You can read more about the round in Prequel’s announcement here.
Founded by Charles and Conor, Prequel is a data syncing tool that allows a company to push/pull data to their customer’s data warehouses (Snowflake, Redshift, BigQuery, etc…). Prequel sells their solution to a company who then offers data syncing to their end customers as a white-labeled import/export feature.
For instance, if you want to compare a customer’s SFDC record with their billing history and website interactions, you better hope that 3 different vendors all have dedicated integrations and interactivity with one another. If not, your business data may be sitting siloed in 3 different vendors’ data warehouses and be unavailable to you.
This challenge is all too common. With the proliferation of software products over the last decade plus we’re seeing the tech stack for companies grow…a lot. Yes, there are better, more specialized applications enabling every conceivable business function, from sales, to marketing, to analytics, to CS, to engineering, to infrastructure and far more. But there is a tradeoff: Company data now lives in a constellation of cloud applications. This data is not readily accessible for data scientists or analysts, nor is it easily presentable in critical business applications used for decision-making.
Prequel is a new way to solve this problem. Vendors can offer export functionality into a customer’s database, or customers can request import functionality from a vendor’s data. With each new connection point, you get access to more of your own data from your vendors and can perform more bespoke analysis across tools.
We’re seeing large companies like Stripe, Heap, and Snowflake investing in building out this functionality themselves to accommodate requests from customers, and believe this is a great signal for the opportunity ahead for a product like Prequel — very few organizations have the capability or appetite to take this on themselves, but we expect that more and more will hear this request from customers in the years ahead.
We’ve gotten to know co-founders, Charles and Conor, over the last year or so and have been incredibly impressed with what they have accomplished with a small team. They are customer-focused, service-oriented and focused on building a new category of data connectivity. We’re excited to partner with the Prequel team on their journey to revolutionize how businesses and their customers share data.
If you are NYC-based, check out some of the critical roles they are hiring for here!