When was Parallel Works founded?

Parallel Works was founded in 2015 and raised its 1st funding round within a year of its incorporation.

Where is Parallel Works located?

Parallel Works is headquartered in Chicago, United States.

How many employees does Parallel Works have?

As of Aug 31, 2026, the latest employee count at Parallel Works is 24.

Is Parallel Works a funded company?

Parallel Works is a funded company, having raised a total of $870K across 7 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on May 14, 2015.

When was the latest funding round of Parallel Works?

Parallel Works' latest funding was a $***** Grant (prize money) round on Feb 18, 2020, with participation from 1 investor.

Where does Parallel Works rank among its competitors?

Parallel Works ranks 34th amongst 374 active competitors, of which 65 are funded. It stands 9th in terms of total funding among its competitors. The most recent competitor to raise funding was FluidStack, which secured $1.5B in Sep, 2026.

Who are the top competitors of Parallel Works?

Parallel Works' top competitors include CoreWeave, Hewlett Packard Enterprise and Rescale. Among them, FluidStack secured the most recent funding round in September, 2026.

Parallel Works - 2026 Company Profile, Team, Funding & Competitors

Company Details

Parallel Works provides a platform to run compute-intensive simulation, modelling, and data analytics workflows. It enables users to run large-scale workflow applications in parallel across multiple cores. Users need to launch parallel works cloud cluster, select desired workflow to specify parameters and execute the workflow, monitor progress and visualize results. Partners include Engys, Diva for Rhino, Flood Modeller Suite, and more.

Website: parallelworks.com
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Email ID: *****@parallelworks.com

Key Metrics

Founded Year

2015

Location

Chicago, United States

Stage

Seed

Total Funding

$870K in 7 rounds

Latest Funding Round

Grant (prize money), Feb 18, 2020, $*****

Investors

DOE & 2 more

Ranked

34^th among 374 active competitors

Employee Count

24 as on Aug 31, 2026

Similar Companies

CoreWeave & 328 more

View Parallel Works' full profile

Parallel Works is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Parallel Works Inc. CIN: 475457132 , United States, Active	Dec 31, 2014	-	20 (As on Dec 31, 2024)	-

Parallel Works has raised a total funding of $870K over 7 rounds. Its first funding round was on May 14, 2015. Its latest funding round was a Grant (prize money) round on Feb 18, 2020 for $*****. 1 investor participated in its latest round. Parallel Works has 3 institutional investors.

Here is the list of recent funding rounds of Parallel Works:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Feb 18, 2020	1276394	Grant (prize money)	7163753	6554354	7522176	6135638
Jan 06, 2020	4093194	Grant (prize money)	3566547	4883669	7722839	DOE
Feb 19, 2019	6663016	Grant (prize money)	7052424	2374552	5795299	DOE

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View details of Parallel Works's funding rounds and investors

The founders of Parallel Works is Matthew Shaxted.

Here are the details of Parallel Works' key team members:

Matthew Shaxted: Co-Founder & President of Parallel Works.

View details of Parallel Works's Founder profiles and Board Members

Parallel Works' employee count trend

Parallel Works has 24 employees as of Aug 26. Here is Parallel Works's employee count trend over the years:

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Top competitors of Parallel Works include CoreWeave, Hewlett Packard Enterprise and Rescale. Here is the list of Top 10 competitors of Parallel Works, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	CoreWeave 2017, Livingston (United States), Public	Provider of cloud computing services for artificial intelligence workloads	$2.38B	Magnetar, Fidelity Investments & 39 others	80/100
2nd	Hewlett Packard Enterprise 2015, Houston (United States), Public	Provider of edge-to-cloud solutions, products, and services for enterprise organizations	-	Kleiner Perkins, Draper Athena & 3 others	71/100
3rd	Rescale 2011, San Francisco (United States), Series D	Provider of high performance computing platform for engineering and science	$369M	Republic Capital, Samsung Catalyst Fund & 71 others	71/100
4th	FluidStack 2017, New York City (United States), Series B	Provider of managed high performance computing clusters for artificial intelligence	$3.28B	Jane Street, Situational Awareness & 11 others	70/100
5th	Theta Token 2016, Cupertino (United States), Series A	Decentralized video delivery platform	$9.26M	Sierra Ventures, The Venture Reality Fund ... & 36 others	70/100
6th	Aethir 2021, Singapore (Singapore), Seed	Network of distributed cloud infrastructure providing enterprise grade GPU compute	$9M	Framework Ventures, HashKey Capital & 19 others	68/100
7th	exaBITS 2021, San Mateo (United States), Seed	Decentralized GPU computing infrastructure for AI workloads	$20M	Portal ventures, Hack VC & 16 others	67/100
8th	Crusoe 2018, Denver (United States), Series F	Operator of cloud platform providing infrastructure for artificial intelligence workloads	$5.77B	Valor Equity Partners, Founders Fund & 72 others	66/100
9th	Neysa 2023, Mumbai (India), Series B	Provider of AI acceleration cloud system with infrastructure and services	$650M	Z47, Nexus Venture Partners & 16 others	66/100
10th	E2E Networks 2009, Delhi (India), Public	Provider of cloud infrastructure for artificial intelligence and machine learning	$487K	Blume Venture, Larsen Toubro & 7 others	65/100
34th	Parallel Works 2015, Chicago (United States), Seed	HPC Platform to run Compute intensive simulations and build workflow jobs in parallel	$870K	DOE, GrowthX & 1 others	51/100