This Pitch Deck Helped a PR Firm Increase $4.5 Million

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  • PR tech startup Propel has raised $4.5 million, led by Lyft and DoorDash investor NFX.
  • Its tech helps PR professionals discover the proper journalists to pitch.
  • Propel has raised $6 million whole. 

PR tech startup Propel has raised $4.5 million in further seed funding, mentioned CEO and cofounder Zach Cutler, bringing its whole funding to $6 million.

VC agency NFX, an early investor in DoorDash and Lyft, led the spherical, and VSC Ventures and Endeavor chief digital officer Man Schory additionally participated.

Whereas Propel was valued at $15 million when it raised its first spherical of seed funding, Cutler declined to reveal if that valuation had modified, as a result of his board wished to maintain that data confidential.

Based in 2018, Propel is designed to assist PR professionals discover the proper journalists to pitch, handle their campaigns, monitor media protection, and measure for metrics like internet site visitors and gross sales. The corporate additionally operates databases that monitor multiple million journalists and 50 million influencers on Twitter, and its shoppers embrace greater than 150 corporations like Google and PR businesses like Actual Chemistry.

Cutler mentioned Propel raised extra money as a result of it needs to double the dimensions of its gross sales and advertising divisions to about 15 folks by the tip of the 12 months, and triple the dimensions of its engineering and product groups to fifteen folks.

The corporate wants these staff so it could actually full one among its greatest tasks of the 12 months, a device referred to as “Pitch Community,” which can let journalists use the platform to search out sources.

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Propel may also must closely market Pitch Community because it faces competitors from related companies like Cision subsidiary Assist a Reporter Out, utilized by 75,000 journalists, and Qwoted, which raised $3 million in seed funding and is already utilized by hundreds of journalists.

Startups like Propel, Memo, and Qwoted have alternative to fill within the gaps left by giant tech gamers like Cision, Meltwater, and Onclusive, which have not adopted by on their guarantees to develop “all-in-one” platforms for PR professionals.

Take a look at the important thing slides from Propel’s investor deck.