When was Propel founded?

Propel was founded in 2014 and raised its 1st funding round 1 year after it was founded.

Where is Propel located?

Propel is headquartered in Brooklyn, United States. It is registered at Brooklyn, New York.

Who is the current CEO of Propel?

Jimmy Chen of Propel. They have also founded 1 company.

How many employees does Propel have?

As of Aug 31, 2026, the latest employee count at Propel is 124.

Is Propel a funded company?

Propel is a funded company, having raised a total of $68.3M across 6 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on Mar 10, 2015.

How much is Propel worth?

The latest valuation of Propel is $***** as of Feb 12, 2020.

When was the latest funding round of Propel?

Propel's latest funding was a $***** Grant (prize money) round on Aug 29, 2024, with participation from 1 investor. Its primary sector is GovTech. In United States, the GovTech sector has seen $504M in funding in 2026 to date.

Where does Propel rank among its competitors?

Propel ranks 1st amongst 4 active competitors, only 1 of which is funded. Propel, which secured $3.5M in Aug, 2024.

Who are the top competitors of Propel?

Propel's top competitors include Plianz, Aidealab and Transitional Rent. Among them, Propel secured the most recent funding round in August, 2024.

Propel - 2026 Company Profile, Team, Funding & Competitors

Propel is a series B company based in Brooklyn (United States), founded in 2014 by Shelly Ni, Ram Mehta and Jimmy Chen. It operates as a Developer of mobile applications for managing government nutrition assistance benefits. Propel has raised $68.3M in funding, with a current valuation of $*****. The company has 4 active competitors, including 1 funded and 1 that has exited. Its top competitors are Plianz, Aidealab and Transitional Rent.

Company Details

Developer of mobile applications for managing government nutrition assistance benefits. The software enables users to monitor account balances, review transaction histories, and receive notifications regarding deposit schedules. It provides security features, including card locking and fraud monitoring, to protect against unauthorized account access. Additionally, the platform connects users to discount programs, grocery savings, and employment opportunities. It integrates with state portals to provide real-time information and simplifies the management of public assistance programs.

Website: www.propel.app/
Social
Email ID: *****@propel.app
Phone Number: +1 **********
Registered Address: Brooklyn, New York

Key Metrics

Founded Year

2014

Location

Brooklyn, United States

Stage

Series B

Total Funding

$68.3M in 6 rounds

Latest Funding Round

Grant (prize money), Aug 29, 2024, $*****

Post Money Valuation

$***** as on Feb 12, 2020

Investors

Kleiner Perkins & 6 more

Ranked

1^st among 4 active competitors

Employee Count

124 as on Aug 31, 2026

Similar Companies

Plianz & 2 more

View Propel's full profile

Propel is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
PROPEL INC CIN: 471508947 , United States, Active	Dec 26, 999	-	100 (As on Dec 31, 2024)	-

Propel has raised a total funding of $68.3M over 6 rounds. Its first funding round was on Mar 10, 2015. Its latest funding round was a Grant (prize money) round on Aug 29, 2024 for $*****. 1 investor participated in its latest round. Propel has 7 institutional investors.

Here is the list of recent funding rounds of Propel:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 29, 2024	6685878	Grant (prize money)	7568489	2266512	7561885	1863028
Mar 08, 2022	8287738	Series B	3787173	2873301	4203462	Nyca Partners
Dec 15, 2018	5923088	Series A	1407771	3875462	7474194	Nyca Partners

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View details of Propel's funding rounds and investors

The founders of Propel are Shelly Ni, Ram Mehta and Jimmy Chen. Jimmy Chen is the CEO of Propel.

Here are the details of Propel's key team members:

Shelly Ni: Co-Founder of Propel and founder of 1 other company.
Ram Mehta: Co-Founder & CPO of Propel.
Jimmy Chen: Co-Founder & CEO of Propel.

View details of Propel's Founder profiles and Board Members

Propel's employee count trend

Propel has 124 employees as of Aug 26. Here is Propel's employee count trend over the years:

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Top competitors of Propel include Plianz, Aidealab and Transitional Rent. Here is the list of Top 10 competitors of Propel, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Propel 2014, Brooklyn (United States), Series B	Developer of mobile applications for managing government nutrition assistance benefits	$68.3M	Kleiner Perkins, Financial Solutions Lab & 5 others	73/100
2nd	Plianz 1981, United Kingdom, Acquired	Cloud-based integrated complaince management software provider	-	-	24/100
3rd	Aidealab 2026, Umbria, Unfunded	Developer of AI-powered platforms simplifying complex interactions for diverse users	-	-	18/100
4th	Transitional Rent San Francisco (United States), Unfunded	Provider of a technology platform for transitional rent benefit administration and management	-	-	16/100