Propel raises $4.5 million seed round

The funding round was led by NFX.

(Photo credit: Getty Images).

Earned media management platform Propel has raised a $4.5 million seed round.

The funding round, led by NFX, brings Propel’s total funds raised to $6 million. VSC Ventures and Endeavor chief digital officer Guy Schory also participated in this round. 

Former Robinhood CMO and head of communications at Facebook Messenger Christina Smedley and former SimilarWeb COO Avrom Gilbert have joined Propel’s advisory board.

The company, which developed the concept of PRM or public relations management, plans to use this funding to support development of its AI-driven “pitch network.” This network is part of Propel’s software-as-a-service platform and connects comms pros and journalists using AI, revealing the preferences and requests of both parties. The objective is to end reliance on mass pitching, by helping to connect organizations to the right media to cover their stories.

In addition to helping comms pros discover and identify relevant media, Propel also allows users to manage relationships and campaigns on its platform and monitor coverage and their brand’s share of voice. Users can also measure ROI from earned media, including traffic, form submissions, purchases and other conversions. With these tools, organizations can both automate and enhance their media outreach.

Propel also plans to roll out tools for journalists starting in Q2, helping them find sources, and manage, measure reach and sentiment of stories.

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