Revenues and headcount double as the company expands presence in mid-market and enterprise segments.
Propel, the only product success platform built on the cloud, today announced 100 percent year-over-year revenue growth for fiscal year 2020. The company continued to execute its long term growth strategy, with mid-market and enterprise segments in MedTech, High Tech and consumer goods driving the majority of new customer revenue. Propel welcomed new customers such as Advanced Sterilization Products, Simplisafe, Vizio and Zume during the year.
The team doubled in size with key leadership hires across the entire company. Bill Aston joined Propel as Executive Vice President of Sales, Carmine Napolitano as Chief Finance Officer, Chuck Serrin as Vice President of MedTech and Life Sciences Industry Marketing, Dario Ambrosini as Chief Marketing Officer, Kevin Crothers as Vice President of Solution Consulting, Kishore Subramanian as VP Engineering and Mary De Frenchi as Vice President of Customer Success.
Propel brings any product-focused company and its value chains together by offering innovative cloud solutions needed to create, commercialize and correct successful products. The platform enables multiple teams — including engineering, sales, marketing, quality, service and partners — to collaborate on product success. Creating a seamless user experience for every person that touches the product record is key to Propel’s success, with the most dedicated customers exceeding 80 percent user adoption rates company-wide.
“As we enter our fifth year, more and more companies are agreeing with our original vision that product success is a team sport,” said Ray Hein, CEO of Propel. “The most successful product companies are embracing collaboration across their entire organization, resulting in better products and faster time to market.”
Propel’s Product 360 platform, combined with Salesforce’s Customer 360 Platform, offers unparalleled speed and flexibility to all internal and external teams from concept to customer. The platform delivers integrated product development, commercialization and service solutions that adapt to customers’ unique requirements to help them achieve their personalized definition of product success.
“We see increased adoption in companies spanning from various industries, including CPG, Medical Devices, High Tech and core Manufacturing. They chose Propel because our cloud solution is the fastest to deploy, highly flexible and easiest to use,” continued Hein. “Salesforce customers enjoy the added benefit of a single platform, where customer and product records can be fully integrated to accelerate sales and customer service interactions with their own customers.”
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.
Propel is built on Salesforce, the industry's top-rated cloud SaaS platform, and our integrated solution incorporates all the capabilities of its modern cloud infrastructure. Salesforce's multi-tenant architecture is future-proof, ensuring Propel will always be the next generation product success platform. For more information, visit www.propelplm.com.