# PropelPLM

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/propelplm

- Industry: Software
- Headquarters: Santa Clara, US
- Website: www.propelplm.com
- Total disclosed funding: $42M
- Latest round: Series C (Jun 17, 2021)
- Investors on record: 8

## About

PropelPLM, Inc. is a software company that provides a Product Value Management platform integrating Product Lifecycle Management, Product Information Management, and Quality Management System functionalities to enhance operational efficiency for organizations.Founded in 2015 and headquartered in Santa Clara, US, PropelPLM, Inc. specializes in product management solutions. The founders include Jim Norris, Juan Alzugaray, Ray Hein, and Robert Edney. Propel has successfully raised USD 20.00 mn in its latest funding round, Series C, on June 17, 2021, led by Salesforce Ventures and supported by several other investors. The company has completed a total of 5 deals and holds a current valuation of USD 135.015 mn.Propel Software provides a comprehensive Product Value Management (PVM) platform that integrates Product Lifecycle Management (PLM), Product Information Management (PIM), and Quality Management System (QMS) functionalities into a cohesive solution. This unified platform enables organizations to streamline collaboration between product and commercial teams, enhancing efficiency and accelerating time to market. Propel's offerings are designed to address various challenges faced by businesses, including optimizing product development processes, ensuring data continuity across teams, and improving customer satisfaction through enhanced product quality. The solution is utilized by a diverse client base, including companies in sectors such as smart home technology and medical devices, allowing them to centralize operations and achieve significant return on investment. Propel's products are primarily marketed towards organizations operating within North America and Europe, aiming to serve businesses looking to innovate and streamline their product management practices.Propel Software operates on a subscription-based revenue model, where clients gain access to its PVM platform through tailored subscription packages that cater to varying organizational needs. This transaction structure typically involves partnerships with B2B companies that require integrated solutions for managing product data, quality assurance, and information dissemination. Propel's flagship offerings, including its PLM, PIM, and QMS solutions, are priced according to the features and services selected by the client, ensuring flexibility and scalability. Organizations engage with Propel's platform through direct contracts, often accompanied by onboarding services that facilitate the initial setup and integration into existing workflows. The company’s revenue is driven by the growing demand for advanced product management solutions across multiple industries, supporting clients in enhancing productivity and achieving greater market competitiveness.In June 2021, PropelPLM, Inc. raised USD 20.00 mn in Series C funding, led by returning investor Salesforce Ventures, to further develop Product 360, a unified quality management, product lifecycle management, and commercialization solution built on Salesforce. This round also saw participation from other investors, including Norwest Venture Partners and Alumni Ventures Group. Propel intends to utilize this funding to enhance its technology offerings and expand its reach into new markets, particularly focusing on North America and Europe, to support businesses in improving their product management processes.

## Funding rounds

- Series C, Jun 17, 2021, $20M — TIFF, Norwest Venture Partners, Cloud Apps Capital Partners, Alumni Ventures Group, Salesforce Ventures, Ankona Capital, Green D Ventures
- Series B, Nov 13, 2018, $18M — Norwest Venture Partners, Cloud Apps Capital Partners, Alumni Ventures Group, Salesforce Ventures, SignalFire
- Series A, Mar 10, 2016, $2.2M — Cloud Apps Capital Partners, Salesforce Ventures, SignalFire
- Series A, May 28, 2015, $2M — Cloud Apps Capital Partners, Salesforce Ventures, SignalFire

## Investors

- Cloud Apps Capital Partners (https://capitalatlas.ai/funds/cloud-apps-capital-partners) — Series A, Series B, Series C
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series A, Series B, Series C
- SignalFire (https://capitalatlas.ai/funds/signalfire) — Series A, Series B
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B, Series C
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B, Series C
- TIFF (https://capitalatlas.ai/funds/tiff) — Series C
- Ankona Capital (https://capitalatlas.ai/funds/ankona-capital) — Series C
- Green D Ventures (https://capitalatlas.ai/funds/green-d-ventures) — Series C