Propel Software Solutions is a technology company.
Propel Software Solutions has raised $42.0M across 3 funding rounds.
Propel Software Solutions has raised $42.0M in total across 3 funding rounds.
Propel Software Solutions is a privately-held technology company headquartered in Santa Clara, California, that provides a Product Value Management (PVM) platform designed to unify product development, commercial teams, quality management systems (QMS), CRM, and PLM processes.[1][2][3] The platform serves manufacturers in high-tech, medtech, and consumer goods industries by connecting people, systems, and processes from product concept to customer delivery, enabling faster time-to-market, improved product quality, enhanced customer satisfaction, and better decision-making through a single source of product truth.[1][4][6] With 127 employees and $26.7 million in revenue, Propel has raised $46 million in funding, including a recent $20 million round, and demonstrates strong growth momentum, ranking on the Deloitte Technology Fast 500 for five consecutive years as of 2025.[3][4]
Propel's solutions address siloed departments and outdated software by offering cloud-based collaboration, secure data sharing, and AI integrations like Propel One—an Agentic AI suite powered by Salesforce's Agentforce for roles in engineering, quality, marketing, product management, supply chain, sales, and service.[1][3][4]
Propel Software Solutions was founded by Ray Hein (CEO & Founder) and Ron Hess (CTO & Founder), with early backing from investors like Cloud Apps Capital Partners, Norwest Venture Partners, Ankona Capital, Jackson Square Ventures, and Salesforce Ventures.[1][5] The company emerged to solve fragmentation in product lifecycle management, initially focusing on integrating QMS with CRM and PLM for a "closed loop" to resolve product issues and customer complaints quickly.[3] Pivotal early traction came from its fast-to-deploy, flexible platform built on Salesforce, attracting hyper-growth startups, corporate pioneers, and Fortune 500 leaders in need of unified product data.[1][4] Key milestones include multiple funding rounds totaling $46 million and consistent recognition on fast-growth lists like Inc. 5000 and Deloitte Technology Fast 500.[3][4]
Propel's platform stands out in the PVM space through these key strengths:
Propel rides the wave of AI-driven product lifecycle management (PLM) and manufacturing digitization, where manufacturers demand cohesive data platforms to combat siloed systems amid rising agility needs in high-tech, medtech, and consumer goods.[4] Timing is ideal as cloud adoption surges post-2020s supply chain disruptions, with AI agents like those in Propel One aligning with Agentforce trends for autonomous workflows.[3] Market forces favoring Propel include explosive growth in PVM (unifying product-commercial ops) and regulatory pressures for quality/traceability, enabling faster global competition.[1][2] It influences the ecosystem by setting standards for Salesforce-native PVM, empowering 127-employee scale to serve Fortune 500s while fostering startup innovation through venture backing.[3][4][5]
Propel is poised for accelerated expansion with its AI suite and recent Deloitte ranking signaling sustained hyper-growth beyond 2025.[3][4] Trends like agentic AI proliferation, deeper Salesforce ecosystem ties, and manufacturing's push for real-time collaboration will shape its trajectory, potentially doubling revenue as it penetrates more medtech/consumer segments.[3][4] Its influence may evolve from niche PVM leader to broader enterprise platform, influencing how product companies achieve "customers for life" through unified value chains—reinforcing its core mission to transform product success from concept to customer.[1][5][6]
Propel Software Solutions has raised $42.0M in total across 3 funding rounds.
Propel Software Solutions's investors include Ankona Capital, Cloud Apps Capital Partners, Floodgate, High Alpha, Shasta Ventures, Upfront Ventures, Kevin Hartz, Canvas Ventures, Foundation Capital, Graph Ventures, NFX, SignalFire.
Propel Software Solutions has raised $42.0M across 3 funding rounds. Most recently, it raised $20.0M Series C in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $20.0M Series C | Ankona Capital, Cloud Apps Capital Partners, Floodgate, High Alpha, Shasta Ventures, Upfront Ventures | |
| Nov 1, 2018 | $18.0M Series B | Kevin Hartz, Canvas Ventures, Cloud Apps Capital Partners, Floodgate, Foundation Capital, Graph Ventures, NFX, Shasta Ventures, SignalFire, Tekton Ventures, Tencent Games, Charlie Songhurst, Gokul Rajaram, Javier Olivan | |
| Mar 1, 2016 | $4.0M Series A | Kevin Hartz, Canvas Ventures, Cloud Apps Capital Partners, Floodgate, Foundation Capital, Graph Ventures, Griffin Gaming Partners, NFX, Shasta Ventures, SignalFire, Summit Partners, Tekton Ventures, Tencent Games, Charlie Songhurst, Gokul Rajaram, Javier Olivan |