Propel Raises $4.5 Million Seed Round To Continue Democratizing the PR Industry
We are incredibly proud and excited to share that the Propel team has raised $4.5 million! The round was led by top-tier venture capital firm NFX, with participation from VSC Ventures and Guy Schory (Chief Digital Officer at Endeavor). Additionally, Christina Smedley (former CMO at Robinhood and head of communications at Facebook Messenger) and Avrom Gilbert (former COO of SimilarWeb) have joined the Propel Advisory Board.
We will be using the funds to drive growth and to double down on innovation with the development of the AI-driven Propel Pitch Network.
Where it Started
Propel CEO and Co-Founder Zach Cutler realized the need for this platform while living the life of a PR pro. He founded and led Cutler PR for several years, but experienced the pain points that most PR professionals experience.
Yes, there were tools out there. But none of them addressed these severe challenges. Siloed spreadsheets, time-consuming reporting, insufficient media contact information and lack of business outcomes measurement were just a few of the challenges capping potential for PR pros. Cutler tried dozens of solutions and ultimately decided it was time to create the first PR tool that would offer efficient workflows, powerful media relationship insights, productivity drill downs, and ROI measurability. And so we invented Public Relations Management PRM) technology.
In no time, Propel became the go-to PR tool for several leading communications agencies and brands alike, and has not slowed down since it hit the market in 2019. In three short years, Propel has grown exponentially with over 150 customers and counting!
We are the creators of PRM and our mission of bringing nonstop innovation to the PR industry continues. The next Propel milestone is all about interconnectivity. In a recent Propel study, we found that from 2020 to 2021, the average journalist response rate to media pitches went from 5.21% to 3.53%. You can only imagine what this means for the success rate of actually securing media coverage!
With this new capital, we are creating the Propel Pitch Network, which is designed to directly connect journalists with PR people so they can finally work together seamlessly. The Pitch Network changes the way organizations find the right media and the way media discover relevant sources with the power of AI.
We are leading comms pros one step further from ineffective pitching tactics like spray-and-pray mass emails.
From the Propel team, thank you for supporting us along the way.
How can we help you reach your PR goals? Book a demo with our team to learn more.