Prequel raises $5.2M in Seed funding

Building a data sharing platform for enterprise software

In our launch post a year ago, we laid out our belief in a world where every software vendor offers native data sharing to all their customers. Since then, we've worked hard to bring this vision to life. We do this by providing the infrastructure required by SaaS companies to seamlessly export data to any destination (eg Snowflake, BigQuery, Redshift, S3, Databricks, etc.) – a data pipeline that a company can connect to its own infra, and use to immediately start syncing data to its customers.

We're proud of what we've accomplished since the original announcement. In the last year, we've drastically simplified onboarding and now enable teams to start offering data exports to their customers in under a day, and with no engineering effort or production release required. We've shipped enterprise-grade features like SSH tunneling, self-hosted deployments, and data integrity checks. We've added support for keyless authentication to GCP and AWS destinations, giving our customers (and their customers) best-in-class security.

More importantly, we now power data exports for the next generation of category-defining companies, such as LogRocket, Metronome, Modern Treasury, and Postscript. We're proving  that offering data exports is not just the right thing to do for SaaS vendors – it also has a material impact on KPIs. It's a driver of revenue expansion, leads to lower churn, and increases customer satisfaction. And this is reflected by our growth: the number of destinations we power syncs to has been growing 35+% every month since the beginning of the year.

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Our Seed funding

Today, we're excited to announce our $5.2M Seed round, led by NextView Ventures and Stage 2 Capital, with participation from Y Combinator, Script Capital, and angels such as Ravi Parikh (founder of Heap, one of the first SaaS vendors to offer data exports), Adam Turner (Postscript), and Ralph Gootee (PlanGrid, YC, TigerEye).

It's become a cliche to say this in startup funding announcements, but we're only getting started. We've got some exciting new customers we'll announce soon. We have some major features about to be released, like schema evolution, as well as expanded destination and file format support. We're also hiring across engineering and GTM. If you'd like to be a foundational part of a fast-growing infrastructure startup, drop us a line at jobs@prequel.co. And if you're a software vendor thinking about launching data sharing to your customers, please get in touch at hello@prequel.co. We'll get you going in no time.