About Parallel Systems
Parallel Systems is a company based in Culver City (United States) founded in 2020 by Matt Soule and Benjamin Stabler.. Parallel Systems has raised $87.55 million across 3 funding rounds from investors including Anthos Capital, Collab Fund and Congruent Ventures. The company has 7 employees as of December 31, 2020. Parallel Systems offers products and services including Freight Rail Vehicles and Integration Tools. Parallel Systems operates in a competitive market with competitors including intramotev, OTIV, Chinook, RailHaul and Hydrogen Super Highway, among others.
- Headquarter Culver City, United States
- Employees 7 as on 31 Dec, 2020
- Founders Matt Soule, Benjamin Stabler
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
*********
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Website
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Social
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- Legal Name Parallel Systems, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$87.55 M (USD)
in 3 rounds
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Latest Funding Round
$38 M (USD), Series B
Apr 11, 2025
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Investors
Anthos Capital
& 5 more
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Employee Count
7
as on Dec 31, 2020
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Products & Services of Parallel Systems
Parallel Systems offers a comprehensive portfolio of products and services, including Freight Rail Vehicles and Integration Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automated battery-electric vehicles for efficient freight transport on rail.
Tools to integrate new rail services with existing operations seamlessly.
Unlock access to complete
Funding Insights of Parallel Systems
Parallel Systems has successfully raised a total of $87.55M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $38 million completed in April 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $38.0M
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First Round
First Round
(19 Jan 2022)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2025 | Amount | Series B - Parallel Systems | Valuation | Anthos Capital | |
| Feb, 2022 | Amount | Grant - Parallel Systems | Valuation |
investors |
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| Jan, 2022 | Amount | Series A - Parallel Systems | Valuation | Anthos Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Parallel Systems
Parallel Systems has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Anthos Capital, Collab Fund and Congruent Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment in innovative consumer and technology companies based in Santa Monica.
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Founded Year | Domain | Location | |
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Private equity firm investing in multiple sectors
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Founded Year | Domain | Location | |
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Climate tech investing and support for early-stage entrepreneurs in North America.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Parallel Systems
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Parallel Systems
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parallel Systems Comparisons
Competitors of Parallel Systems
Parallel Systems operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as intramotev, OTIV, Chinook, RailHaul and Hydrogen Super Highway, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Autonomous electric cargo trains are developed for freight transport.
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| domain | founded_year | HQ Location |
AI-enabled self-driving and ADAS solutions for rails are developed.
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| domain | founded_year | HQ Location |
Provider of autonomous rail cargo delivery solutions
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| domain | founded_year | HQ Location |
Develops systems to harvest energy from freight trains for cost and emission reductions.
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| domain | founded_year | HQ Location |
Offers autonomous freight and passenger rail transport solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Parallel Systems
Frequently Asked Questions about Parallel Systems
When was Parallel Systems founded?
Parallel Systems was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Where is Parallel Systems located?
Parallel Systems is headquartered in Culver City, United States. It is registered at Culver City, California, United States.
Who is the current CEO of Parallel Systems?
Matt Soule is the current CEO of Parallel Systems. They have also founded this company.
Is Parallel Systems a funded company?
Parallel Systems is a funded company, having raised a total of $87.55M across 3 funding rounds to date. The company's 1st funding round was a Series A of $49.55M, raised on Jan 19, 2022.
How many employees does Parallel Systems have?
As of Dec 31, 2020, the latest employee count at Parallel Systems is 7.
What does Parallel Systems do?
Parallel Systems was founded in 2020 and is based in Culver City, United States. Operations focus on the rail freight sector, where battery-electric vehicles are utilized for transporting shipping containers and double-stacked loads. Autonomous rail systems and platooning technology vehicles are developed. Software solutions for rail fleet management are also supplied, supporting zero-emissions freight networks.
Who are the top competitors of Parallel Systems?
Parallel Systems's top competitors include intramotev, OTIV and Chinook.
What products or services does Parallel Systems offer?
Parallel Systems offers Freight Rail Vehicles and Integration Tools.
Who are Parallel Systems's investors?
Parallel Systems has 6 investors. Key investors include Anthos Capital, Collab Fund, Congruent Ventures, Riot Ventures, and ARPA-E.