Cointime

Parallel

company

About

Parallel cultivates, produces, and processes cannabis for medical purposes.

Highlights

Total Funding Amount
$365.74M
Funding Rounds
8
Investors
3
Investments
3
Lead Investments
1
Acquisition
3

Details

Last Funding Type
Debt Financing
Last Funding Money Raised
$10M
Industries
Cannabis,Health Care,Personal Health,Therapeutics,Wellness
Founded date
Jan 2, 2014
Number Of Employee
501 - 1000
Operating Status
Active
Legal Name
Surterra Holdings, Inc.
Also Known As
Surterra Holdings,Surterra,Parallel

Parallel cultivates, produces, and processes cannabis for medical purposes. It also operates a marijuana dispensary. The company's mission is to provide the safest, highest quality cannabis-based products that empower health and enable them to live well.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
8
$365.74M
Parallel has raised a total of $365.74M in funding over 2 rounds. Their latest funding was raised on Dec 8, 2022 from a Debt Financing round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Dec 8, 2022 Debt Financing $10M 1 SunStream — Detail
Jan 1, 2021 Series Unknown — 1 — — Detail
Jun 27, 2019 Series D $100M 1 Edward Brown — Detail
Apr 13, 2019 Debt Financing $165.42M — — — Detail
Aug 6, 2018 Series C $65M — — — Detail
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Investments

Number of Investments
Number of Lead Investments
3
1
Parallel has made 3 investments. Their most recent investment was on Jan 25, 2022, when Atomic Form raised $4.50M.
Date Company Name
Round Money Raised Industry Lead Investor
Jan 25, 2022 Atomic Form
Seed $4.50M Cryptocurrency —
Aug 7, 2020 University of Pittsburgh
Grant $3M Education Yes
Nov 13, 2019 Make It Legal Florida
Series Unknown $1.08M Cannabis —

Investors

Number of Lead Investors
Number of Investors
2
3
Parallel is funded by 3 investors. SunStream and Edward Brown are the most recent investors.
Investor Name Lead Investor Funding Round
SunStream Yes Debt Financing
Edward Brown Yes Series D
Poseidon Asset Management — Series Unknown

Employee Profiles

Number of Employee Profiles
1
Parallel has 1 current employee profiles, including Employee Jeffrey Dalton
Jeffrey Dalton
Employee

Acquisition

Parallel has acquired 3 organizations. Their most recent acquisition was New England Treatment Access on Jan 14, 2019. They acquired New England Treatment Access for 0.

Date Company Name
Industry Acquisition Type Price
Jan 14, 2019 New England Treatment Access
Alternative Medicine acquisition — Detail
Jun 25, 2019 Molecular Infusions
Biopharma acquisition — Detail
Apr 1, 2021 Windy City Cannabis
Fitness acquisition — Detail
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