Fundraising Fox

Parallel Systems

Los Angeles, US · Founded 2020 · Delaware corporation · 68 employees on LinkedIn · 5 known investors

Parallel manufactures automated, battery-electric rail vehicles to enable railroads to serve shorter routes and lower-density markets traditionally served by trucking. The company targets railroads as customers and focuses on reducing freight transportation costs, pollution, and road congestion.

CleantechHardwareLogistics & Supply Chain

Founders & leadership

Parallel Systems was founded in 2020 by John Howard, Matthew Soule, Benjamin Stabler, and Matt Soule.

JH
John HowardCo-founder
MS
Matthew SouleCo-founder
BS
Benjamin StablerFounder
MS
Matt SouleFounder

Board

JPJoshua Posamentier
Joshua Posamentierin𝕏Board MemberManaging Partner and Co-Founder at Congruent Ventures

Investors · 5

Congruent VenturesSan Francisco · $100K – $5M
Riot VenturesVenice · $3Mvia Will Coffield · led
Anthos Capitalreported · 2 sourcesSanta Monica · $500K – $10M
Collaborative Fundreported · 2 sourcesNew York · $500K – $1M
Embark VenturesreportedLos Angeles

Funding

SEC filings, press & company announcements

$41.8M disclosed across 2 rounds · 2020–2025

▶$3.8MraisedJul 2020 · 9 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • John HowardExecutive Officer, Director
  • Joshua PosamentierDirector
  • Matthew SouleExecutive Officer, Director
Offering amount
$3.8M
Amount sold
$3.8M
First sale
Jun 2020
Incorporated
Corporation, Delaware, 2020
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Competitors · 4

by search overlap
Parallel Web Systems42 shared keywordsParallel builds infrastructure for AI agents to access, reason over, and transact with web data through declarative interfaces and open, verifiable markets. The platform serves AI systems that need structured access to distributed data, computation, and reasoning capabilities.
Parallels23 shared keywordsParallels develops digital workplace and remote application solutions that enable organizations to reduce hardware waste and carbon footprints by optimizing existing infrastructure across cloud, on-premises, and hybrid environments. The company's products include remote application servers, desktop virtualization, and browser isolation tools designed to support energy-efficient remote work.
Parallel Works18 shared keywords
Freight Waves17 shared keywordsFreightWaves is a news and editorial publication covering logistics, supply chains, and freight transportation sectors.

Companies competing with Parallel Systems for the same Google search keywords, organic and paid, via search-intersection analysis.

In the news

Parallel Systems First Commercial Pilot: Phase 2 Under Way (UPDATED 9/23) - Railway Agerailwayage.com · Sep 2025PARALLEL SYSTEMS TO LAUNCH FIRST COMMERCIAL PILOT IN APRIL FOLLOWING FEDERAL RAILROAD ADMINISTRATION APPROVAL AS COMPANY CLOSES $38 MILLION SERIES B FUNDING ROUNDfinance.yahoo.com · Apr 2025Parallel Systems Raises $38M in Series B Fundingfinsmes.com · Apr 2025Parallel Systems Raises $50 Million in Series A - Los Angeles Business Journallabusinessjournal.com · Jan 2022Parallel Systems Raises Series A Funding for Autonomous, Electric Rail Vehicles - Robotics 24/7robotics247.com

Frequently asked questions

What does Parallel Systems do?
Parallel manufactures automated, battery-electric rail vehicles to enable railroads to serve shorter routes and lower-density markets traditionally served by trucking. The company targets railroads as customers and focuses on reducing freight transportation costs, pollution, and road congestion.
Who founded Parallel Systems?
Parallel Systems was founded by John Howard, Matthew Soule, Benjamin Stabler, Matt Soule in 2020.
Who are Parallel Systems's investors?
Parallel Systems's investors include Congruent Ventures, Riot Ventures, Anthos Capital, Collaborative Fund, Embark Ventures.
How much funding has Parallel Systems raised?
Parallel Systems has disclosed $41.8M raised across 2 rounds.
Where is Parallel Systems headquartered?
Parallel Systems is headquartered in Los Angeles, US.