Parallel
Latest round
- Series A
Last raised
- Mar 2026
Total raised
- $23M
Investors
- 7
About Parallel
Parallel is an innovative company focused on providing advanced AI solutions to streamline healthcare administration, primarily in medical coding, enhancing operational efficiency for healthcare providers. Founded in 2024 in Paris, France, Parallel specializes in AI-driven healthcare administration solutions. The firm successfully completed its first deal on April 3, 2025. The company was founded by individuals with prior entrepreneurial experience, although specific details are not provided. Parallel offers a suite of advanced AI solutions designed to alleviate the administrative burdens faced by healthcare providers, with a primary focus on medical coding. Their flagship product, the coding agent, operates alongside hospital teams to enhance the accuracy and speed of medical coding by leveraging Generative AI to interpret unstructured data and patient contexts. This product is tailored to meet specific coding standards and hospital rules, ensuring that diagnoses are both precise and compliant. The integration of this solution into existing systems is facilitated through remote VPN access and Robotic Process Automation, which mimics human operation while ensuring secure deployment without imposing an integration burden. The company primarily serves hospitals within the European Union, as indicated by its compliance with RGPD, HDS, and ISO 27001 standards, aiming to improve operational efficiency and optimize revenue generation through automated and accurate coding solutions. Parallel generates revenue through business-to-business partnerships with healthcare institutions, particularly hospitals. The company's transaction structure is based on a subscription model, where clients pay for access to the coding agent and other AI tools. These subscriptions vary based on the scale of deployment, with pricing tiers reflecting the complexity of services utilized. The coding agent provides automated coding for simpler cases and intelligent suggestions for more complex scenarios, enhancing value for healthcare providers. By aligning services with operational needs, Parallel facilitates a streamlined billing process that correlates directly with efficiency and accuracy improvements realized by hospitals.
Who invested in Parallel
7 investors across 2 rounds
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Questions about Parallel
Who invested in Parallel?
Parallel has 7 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Parallel raised?
Parallel has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did Parallel last raise money?
Parallel's most recent round on record is a Series A, in Mar 2026.
What does Parallel do?
Parallel is an innovative company focused on providing advanced AI solutions to streamline healthcare administration, primarily in medical coding, enhancing operational efficiency for healthcare providers.
Where is Parallel headquartered?
Parallel is headquartered in Paris, France.
Which VCs invest in companies like Parallel?
Among active investors with capital left to deploy, Index Ventures, Forbion, European Investment Bank and Highland Europe back healthcare it companies at Parallel's stage. Their profiles are linked below.
VCs backing healthcare it startups at Series A
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