PropelPLM Raises $20 Million in Series C  

by Kay Aloha Villamor in September 22nd, 2021

Propel, a Santa Clara, California-based modern way to take products from concept to customer, raised $20 million in Series C financing.

The investment is led by Salesforce Ventures, with participation from existing investors Norwest Venture Partners, Cloud Apps Capital Partners, Green D Ventures, and TIFF. The existing investors are joined by new investor Ankona Capital, a venture capital firm with experience in both supply chain and scaling enterprise B2B SaaS solutions. The company has raised a total of $48 million in funding to date.

With this new round of funding, Propel will continue its development of Product 360 - the only unified quality management (QMS), product lifecycle management (PLM), and commercialization solution built on Salesforce.

Company: PropelPLM, Inc.

Raised: $20.0M

Round: Series C

Funding Month: September 2021

Lead Investors: Salesforce Ventures

Additional Investors: Norwest Venture Partners, Cloud Apps Capital Partners, Green D Ventures, TIFF, Ankona Capital

Company Website: http://www.propelplm.com/

Software Category: Product Lifecycle Management

About the Company: Propel enables Product 360, the modern way to take products from concept to customer. Born in the cloud and built on Salesforce. Propel helps manufacturers collaborate across the entire value chain to get the right products to market faster and at a higher margin. Companies of all types trust Propel to achieve product success, from hyper-growth startups like Desktop Metal, Imperative Care, and Inari Medical, to established innovators like Traeger, Simplisafe, and Vizio, to Fortune 500 companies like Shell and Zoetis. Propel helps companies achieve product success by connecting the people, systems, and processes needed to deliver products from concept to customer. Our fast-to-deploy, flexible, and easy-to-use platform is the single source of product truth for your entire value chain, including sales, service, and partners. Secure and transparent collaboration enables you to get products to market faster while maximizing customer satisfaction and meeting local requirements needed to compete globally.

Source: https://www.businesswire.com/news/home/20210921005156/en/Propel-Announces-20-Million-Series-C-to-Help-Manufacturers-Deliver-Long-Term-Customer-Engagement

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