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Propel raises $4.2mln from Cloud Apps Capital Partners

March 11
4:44 AM 2016

Product management tool Propel has closed $4.2 million series A investment. Cloud Apps Capital Partners led the A series investment round for Propel. The latest round of funding will enable Propel in implementing sales and marketing measures.

Propel has developed management tool on Salesforce platform. Propel assures that its service helps everyone engaged in launching new products coordinate everything that's essential for making product a successful one. It combines all the factors product, customer and service information. 

Venture Beat reports that latest Series A investment round helps Propel further strengthening its sales and marketing strategies. Matt Holleran of Cloud Apps will join board of Propel. Salesforce Ventures and SignalFire also took part in the investments in Propel.

Just concluded round of A series investment is expected to accelerate the development of Propel's product lifecycle management product. PLM solutions based on modern enterprise cloud platform have been developed by Product Lifecycle Management and cloud veterans from Agile software and Salesforce.

San Jose-based Propel is a modern product lifecycle management (PLM) provider. It's been totally built on Salesforce platform. Recently, Propel has developed a Customer Success Platform, a customer-centric PLM solution on Salesforce platform, according to PE Hub Network.

Propel helps everyone including engineers, software programmers, sales personal and partners, who're engaged in rolling out new products. Whereas, other legacy PLM System are confined to managing hardware. 

Ray Hein, CEO, Propel, said: "After my experience with so many product and manufacturing companies, it became clear to me that they needed a modern way to manage the entire product experience."
Manufacturers of all sizes using Propel's tools can capture customer requests. Propel enables manufacturers to collaborate on the content that defines modern products. It also ensures customers embrace products after purchase.

University Chronicle further adds that Propel is keen on helping all the players in product development and enhancing entire product experience. Propel helps its customers launch new products and make them successful. Propel is helping manufacturing companies to redefine product development process.

Ray Hein further explains: "After my experience with so many product and manufacturing companies, it became clear to me that they needed a modern way to manage the entire product experience. Our vision is to help everyone involved in products better engage with customers, launch more successful products and propel their business."

Propel has been set up by manufacturing, PLM and cloud veterans. Ray Hein was an early employee at Agile Software (now Oracle), serving in a number of positions including VP of Product Strategy. He was also EVP at Centric Software, a PLM provider for retailers and SVP at Apttus, a leading Salesforce partner.

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