Parallel has secured $20 million in new Series B funding following the release of outcomes data showing that 98% of K-12 students using the company’s virtual special education and teletherapy services met or exceeded their Individualized Education Program goals during the 2024–2025 academic year.
The results reflect stronger-than-expected progress across behavioral health, speech-language pathology, and specialized instruction, while highlighting the effectiveness of the company’s Pathway platform and high-support clinical model.
Valspring Capital led the investment round with participation from existing investor Rethink Impact. The financing will help Parallel scale its national footprint, enhance its proprietary clinical technology, and expand access to students across all 50 states. The company currently operates in 25 states and serves more than 10,000 students.
The newly released outcomes data, detailed in the Parallel Learning Outcomes: 2024–2025 School Year whitepaper, shows that students consistently reported meaningful engagement and satisfaction with their virtual therapists. The majority of students made progress more rapidly than expected, with notable achievement levels across service categories.
Students receiving behavioral mental health services exceeded expectations at 94.3%, while 78.4% exceeded expectations in speech-language pathology, and 70% exceeded expectations in specialized instruction. Student-reported Routine Outcome Monitoring scores averaged 8.9 out of 10 for provider experience and 8.6 for overall well-being.
Parallel’s model centers on an entirely virtual delivery system supported by licensed clinicians, including speech-language pathologists, school psychologists, school social workers, and special educators. Its Pathway platform integrates secure teletherapy, clinical oversight, AI-driven personalization, and data-rich progress-tracking to support schools that are often understaffed or lack specialists. Many of the students served live in communities with high Social Vulnerability Index scores, amplifying the platform’s significance in improving access to high-quality services for historically underserved populations.
The new investment will accelerate the company’s growth, bolster its outcomes-driven approach, and increase AI integration across its services. Valspring Capital’s participation adds to earlier backing from Tiger Global, Vine Ventures, Obvious Ventures, and Rethink Impact.
Parallel, founded in 2021 by CEO Diana Heldfond, provides a wide range of special education services to school districts, including psychoeducational assessments, speech-language pathology, behavioral and mental health counseling, and specialized instruction. The company aims to transform how districts support students with learning and thinking differences, a group that represents roughly 20 percent of the nationwide student population.
KEY QUOTES
“Regardless of their learning differences, every student deserves access to high-quality services, yet the massive shortage of qualified providers, among other factors, makes it increasingly difficult for districts to meet those needs. We are committed to partnering with districts, as well as the families they serve, to make a difference. The outcomes data reinforces the efficacy and impact of our services, which we look to expand even more broadly with the support of this latest round of funding.”
Diana Heldfond, Founder and CEO of Parallel
“Our students receiving services through Parallel are progressing faster than those served in-person. The collaboration and transparency have rebuilt trust with parents and staff.”
Special Education Director, Michigan
“Parallel aims to supercharge virtual services with technology and expert clinical oversight and support so that providers can focus on the most important aspects of their jobs and students can make measurable, visible, and meaningful growth in their educational goals.”
Dr. A. Jordan Wright, Chief Clinical Officer of Parallel and Author of the Whitepaper
“On top of the clear need for Parallel’s services in today’s schools, we continue to be impressed by the company’s rapid growth trajectory, outcomes, and overall commitment to supporting students across the country. Parallel remains a clear leader in a pocket of the education space that has a massive need and is now poised to make an even greater impact.”
Yumin Choi, Managing Partner of Valspring Capital
