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Parallels has raised $12.0M across 1 funding round.
Key people at Parallels.
Parallels has raised $12.0M in total across 1 funding round.
Parallels develops cross-platform virtualization software, primarily enabling users to run Windows applications and operating systems directly on macOS. Its technology provides seamless integration for diverse computing environments. The company also offers remote application and virtual desktop delivery, ensuring flexible access to digital workspaces across platforms.
Founded in 1999 by Juri Tsibrovski, Parallels originated from the insight into enhanced operating system interoperability. Tsibrovski aimed to simplify computing by facilitating Windows software access on other platforms, eliminating friction. This vision sought to provide users with greater choice and versatility.
Parallels serves customers from individual Mac users to large enterprises, all requiring robust virtualization and remote access. Its products empower clients to maintain productivity and utilize critical software, independent of their primary operating system. The company’s vision fosters a frictionless digital experience, ensuring secure, efficient access to all necessary tools and data.
Key people at Parallels.
Parallels has raised $12.0M across 1 funding round. Most recently, it raised $12.0M Series U in June 2005.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2005 | $12M Series U | — | Bessemer Venture Partners | Announced |
Parallels is a software company specializing in cross-platform virtualization and remote access solutions, enabling users to run applications and access files across devices and operating systems like Windows, macOS, Linux, iOS, Android, and cloud environments.[1][4][5] Its flagship products include Parallels Desktop for Mac, the leading tool for running Windows on Mac without rebooting, used by over seven million users for more than 14 years; Parallels Remote Application Server (RAS) for secure remote virtual desktops; and others like Parallels Toolbox, Browser Isolation, DaaS, and Secure Workspace, serving businesses, public sector, educators, and individuals.[1][3][6] Acquired by Corel Corporation in December 2018, Parallels optimizes computing by solving complex engineering and user-experience challenges cost-effectively.[1][5]
The company targets Mac users needing Windows apps, remote workers, IT admins, and enterprises requiring seamless multi-OS access, addressing compatibility barriers in hybrid work and learning environments.[1][3][7] With strong growth through product innovations and a global presence, Parallels maintains leadership in virtualization, evidenced by milestones like Coherence Mode and mobile access features.[3]
Parallels traces its roots to 1999, founded by Serg Bell (born in the former Soviet Union, later immigrated to Singapore), alongside Ilya, Juri, and Oleg, initially as Parallels, Inc., focusing on cross-platform virtualization.[4][5] Acquired privately by SWSoft in 2004 (publicized in 2007), it expanded with products like Parallels Workstation for Windows/Linux (2004-2005) and the pivotal Parallels Desktop for Mac launch on June 15, 2006—the first to mainstream Mac virtualization, allowing simultaneous Windows and macOS use without rebooting.[3][4][5]
Key evolution included SWSoft's 2008 merger with Parallels, forming a unified brand; funding rounds like $12.4M in 2005 from Bessemer, Insight, and Intel Capital, and later from Cisco and Almaz Capital in 2013; and headquarters moves from Herndon, VA, to Renton/Bellevue, WA, with development in Russia (Moscow, Novosibirsk).[4][5] Early traction surged with innovations like Coherence Mode (2007), Windows 7 support (2009), and enterprise editions (2011), culminating in the 2018 Corel acquisition, solidifying its focus on consumer, business, and automation solutions.[1][3][5]
Parallels rides the hybrid work and multi-OS trends, fueled by remote/hybrid models post-pandemic, Apple's M-series chips challenging traditional virtualization, and rising demand for cloud-agnostic access amid device diversity (Mac, PC, mobile, cloud).[1][3][7] Timing aligns with macOS dominance in creative/education sectors clashing with Windows-dependent enterprise apps, enabling "best of both worlds" without hardware switches—critical as businesses adopt Apple ecosystems for reliability while retaining legacy software.[7]
Market forces like virtualization commoditization, DaaS growth, and cybersecurity needs favor Parallels' secure, intuitive solutions, influencing the ecosystem by mainstreaming Mac-Windows interoperability, boosting productivity for SMBs/enterprises, and paving the way for broader cross-platform computing.[1][3][6] As part of Corel, it amplifies reach within creative tools, shaping how teams leverage diverse tech stacks efficiently.
Parallels is poised to expand in AI-enhanced virtualization, cloud DaaS, and zero-trust remote access, capitalizing on Apple's silicon evolution and hybrid work permanence with features like advanced isolation and seamless ARM-Windows support.[1][3] Trends like edge computing, multi-cloud orchestration, and Apple ecosystem growth will propel demand, potentially driving acquisitions or integrations with Corel's portfolio (e.g., CorelDRAW synergies).[1][5]
Under CEO Christa Quarles, expect accelerated innovation in mobile/secure workspaces, targeting enterprise expansion amid rising SMB virtualization adoption—evolving Parallels from Mac niche leader to indispensable cross-platform enabler, much like its 2006 breakthrough redefined Mac productivity.[1][3][9]
Parallels has raised $12.0M in total across 1 funding round.
Parallels's investors include Bessemer Venture Partners.
