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Tiger continues ferocious streak with Parallel

Illustration of a tiger holding a fan of cash money in its paw.

Illustration: Gabriella Turrisi/Axios

Tiger Global led a $20 million Series A funding round for virtual learning startup Parallel, marking its fifth digital health investment of the year and its third such deal as lead investor.

Why it matters: After emerging last year as the world’s most ferocious startup backer, Tiger remains on a spending spree.

Context: Digital health was a key focus area for Tiger this year and last. Already in 2022, the firm has:

  • Led late-stage funding rounds for digital health infrastructure startup Wheel and disease detection company
  • Supported mid-to-late-stage rounds for virtual surgery training company Osso VR and eating disorder treatment startup Equip.
  • Participated in an early-stage round for price transparency startup Turquoise Health.

💭 Our thought bubble: This could be the sign of an earlier-stage investing trend for Tiger, which also saw its partners recently commit $1 billion exclusively for early-stage tech funds, per The Information.

Details: Obvious Ventures, Barry Sternlich’s JAWS and insider Vine Ventures also participated in Tiger's latest digital health investment.

How Parallel works: Based in New York, Parallel focuses on diagnosing and supporting children with learning differences.

  • After an initial consultation, Parallel matches students with a care team composed of psychologists, behavioral health therapists and speech therapists.
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