Parallel Systems (Rail) Overview

  • Founded
  • 2020
Founded
  • Status
  • Private
  • Employees
  • 26
Employees
  • Latest Deal Type
  • Series A
  • Latest Deal Amount
  • $49.6M
Latest Deal Amount
  • Investors
  • 4

Parallel Systems (Rail) General Information

Description

Manufacturer of electric vehicles designed to serve as an autonomous and zero-emissions freight transportation system. The company builds autonomous battery-electric rail vehicles that increase infrastructure utilization, and improve service to accelerate freight decarbonization, thereby making it easier for customers to move freight cleaner, faster, safer, and more cost-effective than traditional trains or trucks.

Contact Information

Website
www.moveparallel.com
Ownership Status
Privately Held (backing)
Financing Status
Venture Capital-Backed
Primary Industry
Rail
Other Industries
Electrical Equipment
Primary Office
  • 8671 Hayden Place
  • Culver City, CA 90232-2901
  • United States

Parallel Systems (Rail) Timeline

20212022
Date FoundedFinancing RoundCaptured Employee CountEstimated Employee Growth
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Parallel Systems (Rail) Valuation & Funding

Deal Type Date Amount Raised to Date Post-Val Status Stage
2. Early Stage VC (Series A) 19-Jan-2022 $49.6M 000.00 00000 Completed Generating Revenue
1. Seed Round 06-Jul-2020 00.00 00.00 000.00 Completed Stealth
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Parallel Systems (Rail) Cap Table

Stock # of Shares
Authorized		 Par Value Dividend Rate (%) Original
Issue Price		 Liquidation Liquidation
Pref. Multiple		 Conversion Price % Owned
Series A-3 000,000 00.000000 00 000.00 000.00 00 000.00 0.000
Series A-2 000,000 00.000000 00 00.00 00.00 00 00.00 0.00
Series A-1 3,777,000 $0.000010 8% $11.94 $11.94 1x $11.94 23.46%
Seed 2,999,918 $0.000010 8% $1.27 $1.27 1x $1.27 19.1%
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Parallel Systems (Rail) Executive Team (3)

Name Title Board Seat Contact Info
Matthew Soule Co-Founder, Chief Executive Officer & Board Member
Benjamin Stabler Co-Founder, Vice President of Software & Director of Engineering
John Howard Co-Founder, Vice President of Hardware & Board Member
To view Parallel Systems (Rail)’s complete executive team members history, request access »

Parallel Systems (Rail) Board Members (3)

Name Representing Role Since
John Howard Parallel Systems (Rail) Co-Founder, Vice President of Hardware & Board Member 000 0000
Joshua Posamentier Congruent Ventures Board Member 000 0000
Matthew Soule Parallel Systems (Rail) Co-Founder, Chief Executive Officer & Board Member 000 0000
To view Parallel Systems (Rail)’s complete board members history, request access »

Parallel Systems (Rail) Signals

Growth Rate

0.80% Weekly
Growth
Weekly Growth 0.80%, 93rd %ile
-35.5%. 530%

Size Multiple

219x Median
Size Multiple 219x, 100th %ile
0.00x 0.95x. 413Kx

Key Data Points

Twitter Followers

5.5k

Similarweb Unique Visitors

15.0K

Majestic Referring Domains

314

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Parallel Systems (Rail) Investors (4)

Investor Name Investor Type Holding Investor Since Participating Rounds Contact Info
Anthos Capital Venture Capital Minority 000 0000 000000 0
Congruent Ventures Venture Capital Minority 000 0000 000000 0
Embark Ventures Venture Capital Minority 000 0000 000000 0
Riot Ventures Venture Capital Minority 000 0000 000000 0
To view Parallel Systems (Rail)’s complete investors history, request access »

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