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§ Private Profile · 2701 N Thanksgiving Way, Lehi, Utah 84043, US
AI-powered FP&A platform for startups, automating financial planning and analysis with fractional CFO services.
Get Parallel, based in Lehi, Utah, USA, provides an AI-powered financial planning and analysis (FP&A) platform for startups, automating complex tasks like headcount forecasting, scenario modeling, and financial simulations. The platform combines AI agents with a network of fractional CFOs, aiming to deliver always-current financial plans and strategic guidance that replace manual spreadsheet-based processes. The company raised $1.85 million in pre-seed funding in 2023 and currently serves early-stage founders and finance teams, reporting one paying customer and multiple alpha/beta users. Investors include Penny Jar Capital, Night Capital, K5 Tokyo Black, Convoi Ventures, Peak Capital, and Frazier Group. This SaaS solution helps founders make confident growth decisions, prepare investor-ready models, and manage budgets efficiently. Get Parallel was founded in April 2023 by Renato Villanueva.
Get Parallel has raised $2.0M across 1 funding round.
Get Parallel has raised $2.0M in total across 1 funding round.
Get Parallel has raised $2.0M in total across 1 funding round.
Get Parallel's investors include Penny Jar Capital, Animoca Brands, Circle Ventures, LAUNCH, Mechanism Capital, Scheinman Angel Fund, Scribble Ventures, Do Kwon, solly garber, Convoi Ventures, Kendall Frazier, Peak Capital.
Get Parallel has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in August 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2023 | $2M Seed | Penny JAR Capital | Animoca Brands, Circle Ventures, LAUNCH, Mechanism Capital, Scheinman Angel Fund, Scribble Ventures, DO Kwon, Solly Garber, Convoi Ventures, Kendall Frazier, Peak Capital | Announced |
Get Parallel is a strategic finance software platform built for early-stage startups, particularly B2B SaaS companies from pre-seed to Series A, enabling founders to forecast cash flow, manage runway and burn, and make data-driven decisions without needing a full finance team.[1][2][3] It solves the core problem of financial opacity in startups by combining AI-powered agents for automated modeling, scenario analysis, and reporting with fractional CFO oversight for strategic validation, integrating seamlessly with tools like QuickBooks, Xero, and Puzzle to deliver live, auditable forecasts.[1][4] This allows founders to focus on product and growth while gaining CFO-level insights for hiring, fundraising, and vendor management, with strong early traction evidenced by a $2.4 million funding round and testimonials from founders at companies like TruWill, Hyperbound, and Stratus.[1][3]
Co-founded in 2023 by Renato Villanueva (CEO), Tyler Slater (CTO), and Clint Savage (Head of Product), Parallel emerged from the founders' own frustrations with startup finance tools that were either too complex or lacked reliability.[1][2] Initially not focused on financial forecasting, the team pivoted after repeated outreach from founders seeking simple clarity on runway, hiring affordability, and fundraising plans—experiences that echoed their own "fog" of second-guessing fragile spreadsheets despite their finance expertise.[2] Headquartered in Lehi, Utah, at Kiln II, the company quickly gained traction by addressing these pain points, raising $2.4 million to scale its AI-native solution and serve founder-led teams with tools that evolve from initial planning to ongoing FP&A systems of record.[1]
Parallel stands out in the crowded fintech space through its AI-native, founder-friendly design that blends automation, human expertise, and ease of use:
Parallel rides the AI-agent wave in fintech, capitalizing on the explosion of autonomous AI tools that automate white-collar workflows amid economic pressures on startups to optimize cash amid high burn rates and tight funding.[1][4] Timing is ideal post-2023 funding winter, as pre-seed to Series A companies face heightened scrutiny on runway and efficiency during diligence, where traditional spreadsheets fail—Parallel's live integrations and CFO oversight fill this gap, influencing the ecosystem by empowering non-finance founders to treat finance as a "proactive engine" rather than a blocker.[1][2] It amplifies trends like embedded finance and AI copilot adoption, reducing reliance on expensive hires and enabling faster scaling in a market where 80% of startups reportedly struggle with financial modeling.[2]
Parallel is poised to expand beyond core forecasting into full-stack startup ops platforms, potentially adding AI-driven revenue modeling or multi-entity support as it targets Series B+ scaling.[1][4] Rising AI maturity and investor demands for real-time financials will propel growth, especially with its $2.4M war chest fueling product iterations and go-to-market pushes. Its influence could evolve by setting standards for AI + human hybrid finance, democratizing CFO access and helping more founders navigate volatility—ultimately transforming startup finance from a burden into the clarity engine that lets them "know exactly where they stand."[2][3]