About Propel Software
Propel Software is a company based in Santa Clara (United States) founded in 2015 by Ron Hess. It operates as a SaaS (Software-as-a-Service). Propel Software has raised $66.22 million across 5 funding rounds from investors including Norwest Venture Partners, Ankona Capital and Salesforce Ventures. The company has 97 employees as of December 31, 2022. Propel Software offers products and services including Propel PLM, Propel PIM, and Propel QMS. Propel Software operates in a competitive market with competitors including Autodesk, Inventables, Concepts NREC, JITX and Shandong Hoteam Software, among others.
- Headquarter Santa Clara, United States
- Employees 97 as on 31 Dec, 2022
- Founders Ron Hess
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Sectors
Industrial Goods & Manufacturing
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Propelplm Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$66.22 M (USD)
in 5 rounds
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Latest Funding Round
$20 M (USD), Series C
Sep 21, 2021
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Investors
Norwest Venture Partners
& 6 more
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Employee Count
97
as on Dec 31, 2022
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Products & Services of Propel Software
Propel Software offers a comprehensive portfolio of products and services, including Propel PLM, Propel PIM, and Propel QMS. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Product lifecycle management is facilitated for efficient workflows.
Product information is managed for marketing and development teams.
Quality improvements are driven for safer, better products.
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Funding Insights of Propel Software
Propel Software has successfully raised a total of $66.22M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $20 million completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series C — $20.0M
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First Round
First Round
(10 Mar 2016)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Series C - Propel Software | Valuation | Salesforce Ventures | |
| Jan, 2019 | Amount | Series B - Propel Software | Valuation | Norwest Venture Partners | |
| Nov, 2018 | Amount | Series B - Propel Software | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Propel Software
Propel Software has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Norwest Venture Partners, Ankona Capital and Salesforce Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments are made by Ankona Capital in early-stage software companies.
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Founded Year | Domain | Location | |
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Early-stage tech startups are funded by corporate-backed Salesforce Ventures.
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Founded Year | Domain | Location | |
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Venture capital and growth equity firm providing investments and resources to entrepreneurs in various sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Propel Software
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Propel Software
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Propel Software Comparisons
Competitors of Propel Software
Propel Software operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Autodesk, Inventables, Concepts NREC, JITX and Shandong Hoteam Software, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of cloud-based 3D CAD modeling software for the AEC industry
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| domain | founded_year | HQ Location |
Provider of subtractive manufacturing systems
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| domain | founded_year | HQ Location |
CAE and CAM software solutions are provided for engineering applications.
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| domain | founded_year | HQ Location |
AI-powered software is provided for PCB design.
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| domain | founded_year | HQ Location |
3D design and PLM software is provided for industries.
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| domain | founded_year | HQ Location |
Web-based SaaS platform for engineering complex hardware is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Propel Software
Frequently Asked Questions about Propel Software
When was Propel Software founded?
Propel Software was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Propel Software located?
Propel Software is headquartered in Santa Clara, United States. It is registered at Santa Clara, California, United States.
Who is the current CEO of Propel Software?
Ross Meyercord is the current CEO of Propel Software.
Is Propel Software a funded company?
Propel Software is a funded company, having raised a total of $66.22M across 5 funding rounds to date. The company's 1st funding round was a Series B of $18M, raised on Mar 10, 2016.
How many employees does Propel Software have?
As of Dec 31, 2022, the latest employee count at Propel Software is 97.
What does Propel Software do?
Propel Software is focused on delivering a comprehensive Product Value Management platform. Solutions are provided in Product Lifecycle Management (PLM), Product Information Management (PIM), and Quality Management System (QMS). Built on the Salesforce platform, integration with enterprise systems is ensured. Various industries are served with tools for new product development, compliance management, and supplier collaboration. Customer experiences are optimized through data unification and omnichannel enablement. Continuous efficiency gains are supported across the value chain for product stakeholders.
Who are the top competitors of Propel Software?
Propel Software's top competitors include Autodesk, Inventables and Cevotec.
What products or services does Propel Software offer?
Propel Software offers Propel PLM, Propel PIM, and Propel QMS.
Who are Propel Software's investors?
Propel Software has 7 investors. Key investors include Norwest Venture Partners, Ankona Capital, Salesforce Ventures, Cloud Apps Capital Partners, and Alumni Ventures.