Paris-based Parallel, a startup developing AI agents for hospitals, has raised $20 million in a Series A round led by Index Ventures, with participation from Frst, Y Combinator, Hexa, and several angel investors. The funding follows a $3.5 million seed round less than a year earlier, with the company’s technology already deployed across multiple public and private hospitals.
Hospitals continue to rely on complex administrative workflows spread across legacy systems, requiring staff to manually navigate software, input data, and complete repetitive tasks across areas such as coding, billing, and admissions. These processes consume significant resources and reduce the time available for patient care.
Parallel addresses this challenge with AI agents that operate directly within existing hospital software. Rather than requiring deep integrations or system replacements, the platform functions as an AI layer that learns to use software similarly to a human, enabling deployment in a matter of weeks.
"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."
The company’s initial focus is medical coding, a key workflow that translates clinical data into standardised codes for reimbursement and reporting. By improving accuracy and optimisation, Parallel aims to help hospitals capture appropriate revenue. The company plans to expand its AI agents into additional administrative functions, including billing and admissions.
With administrative costs accounting for a significant share of healthcare spending and demand for care increasing, Parallel is positioning its technology as a way to improve efficiency in resource-constrained systems.
The new funding will support the expansion of Parallel’s coding solutions, international growth, and the development of additional AI agents to automate hospital workflows, alongside team expansion.
“Hospitals everywhere are drowning in administrative work. Staff spend hours navigating outdated systems, switching between siloed tools, and manually entering data. This time should be spent on patient care” claimed Y Combinator in their Linkedin post.
