The Parallel is a technology company.
The Parallel has raised $4.0M across 1 funding round.
The Parallel has raised $4.0M in total across 1 funding round.
The Parallel has raised $4.0M in total across 1 funding round.
The Parallel's investors include Nascent, ParaFi Capital, Kevin Love.
Parallel Technologies is an established technology company specializing in intelligent building solutions, integrated security, data center infrastructure, and business communications. Founded in 1983 and headquartered in Eden Prairie, MN, it serves commercial, healthcare, industrial, institutional, and educational sectors by delivering turnkey systems that enhance security, reliability, operational efficiency, and cost savings[1][3][5]. With 119-500 employees across U.S. locations including Ohio expansions, the company acts as a single-source provider for physical security, IT smart hands, low-voltage integration, VoIP, SD-WAN, and building automation, reducing business risks through managed services and strategic vendor partnerships like Mitel[1][2][4][5][6].
Its mission—"Curiosity for Better Solutions"—focuses on making buildings smarter to improve security, performance, and communication while cutting energy costs, backed by a customer-focused culture emphasizing integrity, accountability, and long-term partnerships[1][5].
Parallel Technologies was founded in 1983, initially evolving as a provider of reliable data centers and intelligent building solutions in the Midwest, with early roots in business communications in Ohio areas like Columbus, Cincinnati, and Dayton[1][2][5]. Key leadership includes CEO Thomas Orr and CTO Sachin Pawaskar, guiding its growth into a multifaceted integrator[3]. Pivotal moments include becoming 100% employee-owned in 2020, earning repeated "Best Place to Work" nominations and vendor awards like Mitel Platinum Partner and ShoreTel Circle of Excellence, and recent expansions such as a new Omaha office in 2018, IBEW affiliation, and a 2025 merger with BSB Communications to become Mitel’s second-largest U.S. partner[2][5][6]. These steps reflect a shift from core infrastructure to comprehensive managed security and cloud communications, driven by client needs for converged technology in real-world challenges[1][5].
Parallel Technologies rides the wave of converged intelligent buildings and edge security, where IoT, AI-driven automation, and hybrid cloud communications address rising demands for resilient infrastructure amid cyber threats, remote work, and energy efficiency mandates[1][5]. Timing aligns with post-pandemic shifts to secure, low-latency networks and sustainable facilities, fueled by market forces like data center growth, regulatory compliance in healthcare/industrial sectors, and 5G/wireless expansion[2][4][6]. As a specialty contractor with $67M+ in Procore-tracked projects, it influences the ecosystem by enabling single-vendor simplicity for complex integrations, reducing risks for schools, businesses, and institutions while partnering with giants like Mitel to scale solutions nationwide[4][5][6].
Parallel Technologies is poised for accelerated growth through its 2025 BSB merger, expanding Mitel dominance and cloud offerings like Elevate to counter end-of-life system risks with affordable, feature-rich alternatives[6]. Trends like AI-enhanced security, zero-trust networking, and green building regs will shape its path, potentially doubling revenue ($5-20M range) via managed services and Midwest/national footprints[3][5]. Its employee-owned model and process-driven approach position it to deepen ecosystem influence, evolving from regional integrator to key enabler of smarter, safer infrastructure—reinforcing its core promise of curiosity-driven solutions that protect what matters[1][2].
The Parallel has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in December 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2021 | $4.0M Seed | Nascent, ParaFi Capital, Kevin Love |