Propel Software

About Propel Software

Propel Software, founded in 2015 by Ray Hein and Ron Hess, offers a product value management (PVM) platform designed to connect commercial and product teams. The company is headquartered in Santa Clara, California, and was established with the vision of revolutionizing product development by unifying historically siloed processes. Hein, a SaaS veteran with extensive experience in product lifecycle management (PLM) at companies like Agile Software and Apttus, identified the need for a more integrated, cloud-based solution. Hess brought his experience as a former Salesforce architect to build the platform natively on Salesforce.

Propel's core offering is a cloud-native platform that combines Product Lifecycle Management (PLM), Quality Management System (QMS), and Product Information Management (PIM) into a single solution. This integrated approach creates a continuous digital thread, from concept to customer, enabling collaboration across engineering, marketing, sales, and service departments. The company serves a diverse client base, from startups to Fortune 500 leaders, primarily in the high-tech, med-tech, consumer goods, and discrete manufacturing industries. Notable customers include Vizio, SimpliSafe, Breg, and Desktop Metal. Propel generates revenue through a subscription-based model for access to its platform, with tiered pricing based on user needs.

The platform is engineered to accelerate time-to-market, improve product quality, and enhance customer satisfaction. Key features include bill of materials (BOM) management, change management, quality and compliance management, supplier management, and robust integration capabilities with CAD systems, Microsoft Office, and other enterprise software. By being built on Salesforce, Propel allows for seamless integration with Sales Cloud, Service Cloud, and Commerce Cloud, connecting product data directly with customer information. This unique selling point breaks down traditional data silos, allowing for more informed decision-making and efficient processes. The company reports that customers have achieved significant results, such as a 50% faster time-to-market and a 74% acceleration in bringing products to market. After a Series C funding round of $20 million in September 2021, led by Salesforce Ventures, Propel's total funding reached $66.2 million.