Parallel, a Paris-based startup building AI agents for hospitals, has raised $20 million in Series A funding to accelerate the deployment of its technology across healthcare systems. The round was led by Index Ventures, with participation from Frst, YC, Hexa, and angel investors including Arthur Mensch of Mistral, Felix Blossier, and Quentin de Metz of Pennylane. The funding comes less than a year after the company’s $3.5 million seed round, highlighting rapid investor confidence in its approach to automating hospital workflows.
Founded in 2025 by Paul Lafforgue and Christopher Rydahl, Parallel develops AI agents that operate directly within hospital software systems to automate administrative tasks such as medical coding, billing, and admissions. Rather than requiring deep integrations, the company’s technology functions as a layer on top of existing systems, allowing deployment in as little as a week compared to traditional integration timelines that can take 12 to 24 months.
The company’s initial focus is medical coding, a core hospital function that converts clinical information into standardized codes used for reimbursement and reporting. By improving accuracy and optimization in this process, Parallel aims to help hospitals capture appropriate reimbursement levels while reducing administrative burden.
Parallel’s AI agents are already deployed across several dozen public and private hospitals, where they automate repetitive workflows that typically require staff to navigate multiple legacy systems. These administrative processes account for a significant portion of healthcare spending, with estimates suggesting up to 30 percent of total costs are tied to administration.
The company plans to use the new funding to expand internationally, enhance its existing coding agents, and develop additional solutions to automate time-intensive hospital processes. It will also grow its team as it scales its platform.
Parallel is positioning itself to address a major challenge in healthcare: increasing demand driven by aging populations and regulatory complexity, alongside limited staffing capacity. By automating administrative work, the company aims to allow healthcare providers to focus more resources on patient care while improving operational efficiency.
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“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, Co-founder and CEO of Parallel
“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
