# Parallel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parallel

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.parallel.life
- Total disclosed funding: $50M
- Latest round: Series A (Oct 13, 2021)
- Investors on record: 6

## About

Based in Ontario, Canada, and founded in 2021, 12783185 Canada Inc., trading under the name Parallel, operates as a developer of a gamified platform that provides users with the opportunity to purchase, collect, and showcase non-fungible tokens (NFTs) and digital blockchain collectibles. In March 2024, Parallel raised USD 35 million in venture funding from new investors VanEck, Solana Ventures, and Coinbase Ventures.

The company specializes in the development of 'Parallel,' a sci-fi-themed competitive digital trading card game. This game allows players to build unique decks, strategically bank energy, and deploy armies to influence the outcome of various competitive scenarios. Players engage in gameplay that emphasizes tactical decision-making around card selection, energy management, and faction strategies.

Parallel's revenue model revolves around the free-to-play structure of its core product, 'Parallel.' Players can earn in-game cards without any purchase requirements, which complements the game's competitive nature and encourages a wide player base. Financial transactions primarily occur through optional purchases for in-game enhancements, expansions, and exclusive content.

## Funding rounds

- Series A, Oct 13, 2021, $50M — Polygon Games, OSS Capital, Focus Labs, Paradigm, BigBrain Games, Inc., Yunt Capital

## Investors

- Polygon Games — Series A
- OSS Capital (https://capitalatlas.ai/funds/oss-capital) — Series A
- Focus Labs — Series A
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Series A
- BigBrain Games, Inc. — Series A
- Yunt Capital (https://capitalatlas.ai/funds/yunt-capital) — Series A