Parallel Domain Raises $11M in Series A Funding
Summary
The round was led by Foundry Group, with participation from Calibrate Ventures and existing investors Costanoa Ventures, Ubiquity Ventures, and Toyota AI Ventures. The company intends to use the funds to expand the footprint of its synthetic data generation platform. Led by Kevin McNamara, CEO and Founder, Parallel Domain provides a synthetic data generation platform which, through a suite of APIs and software tools, develops, trains, and tests accurate models while reducing cost and time to deployment. The platform, composed of a suite of APIs and developer tools, enables customers to generate synthetic sensor data on-demand, providing essential performance improvements while reducing developer iteration time. Used by some of the world’s top AI companies, auto manufacturers, and delivery companies, Parallel Domain provides value through the full computer vision development cycle, from initial prototyping and model training to testing and post-deployment maintenance.
Funding
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