French HealthTech startup that builds AI agents for hospitals to automate administrative processes such as medical coding, billing, admission workflows, and documentation by operating directly within existing hospital software.
Investment Rounds
Capital activity and funding progression
Frequently Asked Questions
Where is Parallel located?
Parallel is located in Paris, France.
What industries does Parallel operate in?
Parallel operates in the following industries: HealthTech, Artificial Intelligence, Hospital Software, Healthcare Administration.
How much total funding has Parallel raised?
Parallel has raised a total of $20,000,000.
Who are the investors in Parallel?
The investors in Parallel are: Frst, Y Combinator, Hexa, Several Angel Investors.
What services does Parallel provide for healthcare institutions?
Parallel builds specialized AI agents designed to automate complex healthcare administrative workflows, helping organizations reduce manual labor and improve operational efficiency.
How does the Parallel AI agent navigate outdated hospital software?
The agents are built to interact with legacy systems just like a human would, using mouse and keyboard movements to navigate screens and enter data without requiring expensive or difficult software integrations.
What is the primary focus of Parallel's first vertical AI agent?
The first agent developed by Parallel focuses on medical coding, which involves reading clinical documentation and accurately converting it into standardized billing codes to streamline hospital operations.
How does Parallel maintain high security and compliance standards?
Parallel ensures data protection by hosting information in the European Union and adhering to strict standards such as GDPR, HDS, and ISO 27001, while also ensuring that AI models are not trained on sensitive hospital data.
What are the main benefits of implementing Parallel in a hospital workflow?
By using Parallel, hospitals can significantly reduce the administrative burden on staff, increase the accuracy of medical coding, and optimize revenue while allowing healthcare professionals to focus more on patient care.