Leading K-12 Teletherapy Platform Parallel Secures New Round of Funding & Adds Five Key Hires to Leadership Team to Further Scale and Expand Services

The Company continues to round out its senior team with healthcare and education industry leaders, announcing record growth as of Q3 and an additional round of opportunistic funding.

NEW YORK, Jan. 9, 2024 /PRNewswire-PRWeb/ -- Parallel, the K-12 teletherapy platform that provides a new way to test, diagnose, and empower K-12 students with learning and thinking differences, is proud to announce five new hires to its growing team.

? Cem Varon, formerly CTO of GoHealth, is joining to serve as Chief Strategic Growth Officer.

? Sarah Finney is joining as VP of Customer Success after spearheading a similar role at Presence Learning.

? Monica Maspons is joining as VP of Strategic Operations after previously serving as the SVP of Strategic Growth at Acorn Health.

? Kushal Patel is joining to serve as the newest VP of Finance after previously serving as Senior Director of Strategic Finance at Learneo.

? Meryll Dindin, formerly Co-Founder and CTO of Polygon, a Spark Capital backed competitor, is joining as Director of Data Analytics and AI.

These new hires will join an existing talented leadership team at Parallel. Their combined expertise and experience in the digital health and education sectors will allow Parallel to accelerate its growth and position Parallel as a leader in psychoeducational services for students both in and out of the classroom.

Parallel is addressing the pressing challenges within the special education system. It seamlessly integrates cutting-edge technology and unparalleled clinical expertise, streamlining psychological evaluations and support services, including speech-language pathology, specialized instruction, behavioral and mental health counseling, and executive function coaching for K-12 school partners. Parallel's proprietary software drives significant efficiencies for providers, reducing assessment administration time and service preparation, and incorporates clinical features that enhance the quality of sessions and achievement of meaningful outcomes across service lines.

The news of the new hires comes on the heels of Parallel securing a new round of funding, led by Rethink Impact with participation from insiders, totaling $6.125 million. This funding round is a supplement to their Series A funding, boosting their expansion into new territories and product investments.

"Parallel's innovative tech comes at a time when 42 of 50 states face SPED teacher shortages," says Jenny Abramson, Founder & Managing Partner of Rethink Impact (the largest VC fund in the country backing female leaders). "Our firm spent years looking at solutions in special education and were incredibly impressed by not only the quality of what Diana and her team have built but by the fact that they have so quickly scaled to 80+ districts. We couldn't be more excited to support Parallel in providing access to these critical education services."

Parallel also reported record growth throughout the company as of Q3, including an increase of 200% of its provider network, with over 95% of providers deciding to stay with Parallel. This has resulted in more than 4x in the number of students supported across close to 80 K-12 districts, generating over 4x in total revenue compared to the previous year. Additionally, preliminary data also suggests that over 90% of students have positive feelings towards their therapists, a datapoint, amongst many, that Parallel collects to ensure it delivers the best clinical outcomes to students.

According to Parallel's Founder & CEO, Diana Heldfond, they are creating much-needed solutions within the education system. "Parallel is tackling the most pressing challenges facing today's public school system by increasing access to quality, effective, and affordable care," shared Heldfond. "Students registered with us have reported significant progress that includes grade improvement, positive changes in behavior, increased excitement to learn, and more."

News of the new hires and funding round follow Heldfond's recent recognition as the Education Callout for the 2024 Forbes' 30 Under 30 list. The United States has around seven million students with special needs who qualify for accommodations, leaving students vulnerable to a lack of support. With Parallel, students can receive special education support with virtual services, assessments, counseling, and instruction.

About Parallel Learning

Parallel, founded in 2021 by Diana Heldfond, is a leading provider of special education services for K-12 schools and districts, committed to fostering success for diverse learners and thinkers. Through innovative technology, Parallel redefines special education services, improving access, equity, and quality in special education, and addressing the challenges faced by often understaffed and overwhelmed schools. Parallel seamlessly partners with K12 Schools and Districts to provide a comprehensive range of services. At Parallel, value and support the success of our diverse team of dedicated professionals, including school psychologists, speech-language pathologists, school social workers, and special education teachers. The company's mission revolves around transforming the lives of the one in five students facing learning and thinking differences. For more information on Parallel's commitment to clinical and educational excellence, please visit www.parallellearning.com

Media Contact

Gretchen Pahia, Pitch Public Relations, 1 6023094286, [email protected], Pitch Public Relations

SOURCE Parallel