Parallel completes its fundraising with structured non-dilutive funding: their experience

Parallel overview

Parallel is developing an artificial intelligence solution that automates medical coding in hospitals. Their technology turns patient records into structured data, allowing healthcare institutions to save valuable time on complex and time-consuming tasks. By reducing the administrative burden on caregivers, Parallel meets a major challenge in the hospital sector while freeing up resources for care. Their ambition: to become a key player in the modernization of health systems on a large scale.

In April 2025, Parallel raised 3.2 million euros in particular from Frst, Y Combinator, Bpifrance, Kima Ventures and Better Angle. This funding will make it possible to accelerate the deployment of its AI agents in hospitals and to extend its solution to other key functions in the medical back office.

With a Franco-American structure, a recent business model hub and a round combining equity, innovation loans and grants, we were facing a particularly complex arrangement. Reki allowed us to see things quickly, to make the right choices at the right time, and to build a coherent non-dilutive financing strategy. Beyond the tools, it was the methodological clarity and the solidity of the approach that made the difference.

We were able to decide between the right systems at the right time, with advice that was clear, applicable and really adapted to our situation. This level of strategic perspective made all the difference in building a solid package, in line with our goals.

Importance of the dilution name for Parallel

As a tech start-up in a regulated sector such as health, we face investment and R&D needs prior to marketing. The development of complex models, high regulatory requirements, as well as the need for field deployments, especially at public hospitals, were integral to our trajectory. From the start, we knew that we had to structure our fundraising in an intelligent way, to support this ambition without excessively diluting our capital.

We have therefore activated several complementary financing levers: an R&D Innovation loan and a grant through Innov'up, supplemented by a seed loan. This arrangement allowed us to build a coherent and directly mobilisable survey, perfectly aligned with our operational priorities.

What really mattered to us was being able to allocate each resource where it would have the most impact. Equity has allowed us to fund R&D and advance our technology, while non-dilutive has supported fast-returning functions — such as business development, operations, or the launch of our first pilots. This allocation logic has maximized our efficiency, while strengthening our financial autonomy.

What I found in Reki was an ability to deliver the right advice, at the right time, with a real understanding of the issues. Even on complex topics, the answers were clear, reliable, and appropriate. This quality of support has allowed us to move forward with confidence, without wasting time, and always in the right direction. The approach is fluid, structured, and designed to move projects forward quickly.