Y Combinator and Hexa Invest in Parallel AI

An Ambitious Fundraising for Parallel

The startup Parallel, born within the startup studio Hexa, has just completed a significant fundraising round of $20 million. This operation is led by Index Ventures and aims to revolutionize the hospital sector through its artificial intelligence agents. Parallel's main objective is to enable healthcare facilities to achieve substantial savings by automating administrative tasks.

One year after its creation, Parallel is looking to accelerate its development. The French healthtech company aims to transform the management of repetitive administrative tasks in hospitals. To this end, it has announced a Series A funding round of $20 million, backed by a group of prestigious investors.

Among the participants in this fundraising round is Index Ventures, as well as the Frst fund, which had already led a seed funding round of $3.5 million in April 2025. The American accelerator Y Combinator and the startup studio Hexa are also involved. Business angels such as Arthur Mensch from Mistral AI, along with Félix Blossier and Quentin de Metz from Pennylane, have also invested in this project.

A Strategy Focused on Medical Coding

Parallel, initially launched under the name Kiosk by Paul Lafforgue and Thomas Sohet at the end of 2023, first targeted improving customer relations via WhatsApp. However, in September 2024, the startup pivoted to focus on developing AI agents integrated into hospital software. While traditional integrations can take between 12 and 24 months, Parallel's solutions promise implementation in just a few weeks.

The first application area for these AI agents is medical coding, a manual and time-consuming task. This activity involves reading medical reports to convert diagnoses and procedures into standardized codes, essential for billing, epidemiological tracking, and performance analysis. Paul Lafforgue, co-founder and CEO of Parallel, emphasizes the importance of this task, as it represents 60 to 80% of healthcare facilities' revenues. In a context where 70% of French hospitals are operating at a deficit, automating this process is crucial.

Expansion and Recruitment Ahead

After a first year dedicated to deploying its AI agent, Parallel plans to develop other solutions to lighten the administrative burden on hospitals. Upcoming steps include automating billing and admission processes. The name "Parallel" reflects the idea of deploying agents that work alongside medical teams in healthcare facilities.

Following the departure of Thomas Sohet last September, Paul Lafforgue, a former Data Scientist at Meta, has partnered with Christopher Rydahl, known for contributing to the creation of the nursing staff management platform Hublo. Quentin Jarrion, former Chief Medical Officer at Ramsay Santé, has also joined the team. After growing from 3 to 10 employees in a year, Parallel plans to recruit an additional 30 people by the end of the year to strengthen its sales and technical teams.

Currently, Parallel has deployed its first AI agent in about 40 hospital facilities. However, the company has much larger ambitions, with nearly 2,000 facilities in France. It also plans to expand internationally, particularly targeting Europe and the United States. In these new markets, medical coding will remain a strategic priority.