Propel announced strong revenue growth for Fiscal Year 2019, as well as the addition of Dario Ambrosini as Chief Marketing Officer and Kishore Subramanian as Vice President of Engineering. The two executives join the team following the recent additions of Sean Jacobsohn, Partner at Norwest Venture Partners, and Ashley Stirrup, Chief Marketing Officer at Algolia, to its Board of Directors. Propel has raised a total of $28 million from Cloud App Capital Partners, Norwest Venture Partners, Salesforce Ventures, Signalfire, TIFF, Green D Ventures, and Egora Holdings.
Propel experienced revenue growth across all industry segments, with consumer goods, high tech, and medical devices more than doubling, while revenue from existing clients increased over 200%. Ambrosini and Subramanian join as the company expands its efforts to target every manufacturer in every industry, from the smallest business to the largest enterprise. “Propel is suited for a mid-size company but has everything if we grow to a Fortune 500,” said Chuck Renz, Vice President of Product Engineering & Quality at S’well. “It’s perfect for a Fortune 500 company.”
“The product development cycle has accelerated over the past five years, with more companies using Propel to deliver a combination of quick deployment, ease-of-use and configurability to accelerate time to market,” said Ray Hein, CEO. “Propel is redefining product lifecycle management to extend beyond product data management and engineering lifecycle management from concept to customer. Propel’s cloud-based approach helps companies of all sizes, from the very largest to the up-and-comers, beat competitors by getting their products to market ridiculously fast.”
“Our team is growing to meet strong demand for our unique approach to product lifecycle management,” continued Hein. “Over the past few months, we’ve added employees with decades of product lifecycle management experience to Propel as we continue to build upon our customer use cases and support them through multiple product releases per year. By expanding our executive team, we can continue to deliver the best possible experience for our customers.” Ambrosini joins Propel’s marketing team from Manta, one of the largest communities for small business, where he was COO and previously CMO. Prior to that, he held roles in enterprise and small business marketing at Switchfly, Yahoo! and American Express. Subramanian joins the Propel engineering team from Google, where he was Senior Software Engineer, Developer Relations for Google Assistant’s conversational platform. His previous experience includes senior engineering roles at Motorola Mobility, JackBe, and Agile Software.
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