Parallel, the startup building AI agents for hospitals, today announced it has raised $20 million in Series A funding led by Index Ventures, with participation from Frst, YC, Hexa and notable angels including Arthur Mensch (Mistral), Felix Blossier and Quentin de Metz (Pennylane). Less than one year after its $3.5M seed round, Parallel’s AI agents have already been deployed across several dozen public and private hospitals, running on top of existing systems to automate administrative work.

Behind every patient encounter lies complex administrative workflows spread across multiple legacy systems. Hospital staff must manually navigate software, enter information, and complete repetitive tasks across coding, billing, and admissions. These processes consume a significant share of healthcare resources and pull clinicians and administrative teams away from patient care.

Parallel automates this work with AI agents that operate directly inside hospital software. Instead of requiring hospitals to replace or integrate deeply with existing systems, Parallel runs as an AI layer on top of them, learning to use the software as a human would. While traditional integrations into healthcare platforms can take 12 to 24 months - if they succeed at all - Parallel can be deployed in as little as a week.

"Because our technology runs on top of legacy systems rather than requiring deep integration, our agents can automate a wide range of administrative tasks in healthcare. That means less time and resources spent on cumbersome, manual processes.”

Paul Lafforgue, Parallel co-founder and CEO

The company’s first focus is medical coding, a core hospital workflow that converts clinical information from a patient stay into standardized codes used for reimbursement and reporting. By improving coding accuracy and optimization, Parallel helps hospitals capture the appropriate level of reimbursement and unlock additional revenue.

Beyond coding, Parallel plans to expand its AI agents across a wide range of administrative workflows in hospital operations, including billing and admissions.

Today, up to 30% of healthcare spending goes on administration. Ageing populations are driving a sharp increase in care demand, while regulation continues to increase the administrative work required per patient. Staffing, however, cannot scale to match. Many staff are forced to spend hours navigating between outdated tools entering data manually.

By focusing on vertical agents purpose-built for the complexities of healthcare, Parallel aims to make meaningful progress on one of the industry's most urgent challenges: delivering better care with fewer resources.

“The speed with which hospitals see the real impact of Parallel’s AI agents has been truly impressive. Hospitals are rightly relying on a lot of bureaucracy to ensure care is delivered in the right way.  AI agents present a huge opportunity for hospitals across the entire patient life cycle, ensuring time and resources are invested where it matters the most.”

Julia Andre, Partner at Index Ventures

Parallel’s success has been driven by a stellar team with key operational, medical and healthtech experience. Co-founder and CTO Christopher Rydahl previously launched Hublo, Europe’s largest healthcare staffing platform. Along with Christopher, Paul Lafforgue is a graduate of France’s prestigious École polytechnique, and previously led search data projects at Meta and Ex-McKinsey. The leadership team is completed by Chief Medical Officer Quentin Jarrion, MD, who was formerly a CMIO of Ramsay Santé, the largest private hospital group in France.

The Series A financing will support Parallel as it accelerates the rollout of its existing coding agents, expands internationally, and develops new solutions to automate time-intensive hospital processes. It will also enable the company to expand its team, strengthening its mission to address healthcare's central challenge: delivering more care, with fewer resources.

About Index Ventures

Index Ventures is a global venture capital firm that backs exceptional entrepreneurs. We help founders turn their bold ideas into global businesses and, through the companies they build, have a long-lasting and positive impact on the world around us. Index-backed businesses are supported by an experienced team of investors, strategists, and an extensive global network built over three decades of startup investing. Working side-by-side through the scale-up journey, we forge deep and long-lasting relationships with founders and their teams across many industries and geographies.

https://www.indexventures.com/

About Parallel

Launched in 2025 by Paul Lafforgue and Chris Rydahl, Parallel is a software solution that builds AI agents to automate administrative tasks in hospitals. Using Large Language Models and Computer Use Agents, Parallel leverages medical data to streamline operations and improve quality of care.

http://www.beparallel.com/