Paris-based Parallel, a startup developing AI agents for hospitals, has raised $20 million in a Series A round led by Index Ventures, with participation from Frst, Y Combinator, Hexa, and several angel investors.

The funding follows a $3.5 million seed round less than a year earlier. The company’s technology is already deployed across multiple public and private hospitals.

Efficiency through AI

Hospitals continue to rely on complex administrative workflows spread across legacy systems, requiring staff to manually navigate software, input data, and complete repetitive tasks across areas such as coding, billing, and admissions. Parallel addresses this challenge with AI agents that operate directly within existing hospital software.

Rather than requiring deep integrations or system replacements, the platform functions as an AI layer that learns to use software similarly to a human, enabling faster deployment.

Focus on medical coding

The company’s initial focus is medical coding, a key workflow that translates clinical data into standardised codes for reimbursement and reporting. By improving accuracy and optimisation, Parallel aims to help hospitals capture appropriate revenue. The company plans to expand its AI agents into additional administrative functions, including billing and admissions.

The new funding will support the expansion of Parallel’s coding solutions, international growth, and the development of additional AI agents to automate hospital workflows, alongside team expansion.