Jordan Bevan
Parallelz announced that it has raised a pre-seed funding round of $3 million for its technology platform that can run any mobile app natively in a web browser, without any quality loss or code changes.
Parallelz founder and CEO Albert Lai said the new funding shows excitement for his company’s mission to challenge “the app store monopoly.”
Founded by experienced mobile gaming and software leaders including serial entrepreneurs and technologists from Google, Mozilla, MIT Media Lab, Bridgewater Associates and other top technology companies, Parallelz plans to use the funding to grow its team and accelerate platform development.
“Parallelz has achieved what many developers thought was impossible. Soon, sharing a mobile app will be as easy as sending a link,” said investor Ryan Hoover, founder of Product Hunt and investor at Weekend Fund.
The company plans to make its platform available in limited release later this year.
“The breakthrough software architecture developed by Parallelz instantly transforms native mobile applications into native web applications, without any compromise to visual quality or user experience. Better yet, the application transformation — once considered impossible — doesn’t require any work by a developer. No code changes required, and no need for an SDK,” the company said in a statement.
In addition to Baker, Charoo and Hoover, Parallelz’ investors include pre-seed investors from Global Founders Capital, Play Ventures, Garage Capital, Two Small Fish Ventures. Additional individual investors include Jonathan Lai, general partner at Andreessen Horowitz; Jude Gomila, founder and CEO, Golden; Kyu Lee, president, Com2uS; and Farhan Thawar, vice president of engineering, Shopify.
According to Alexander McIsaac, partner at Global Founders Capital: “Forcing users to download and install apps has unnecessarily created friction. Parallelz removes the friction and replaces it with a method that is easy for users and developers alike.”
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