Parallel Domain, a Palo Alto, CA-based provider of a data-generation platform for autonomous driving companies, raised $30m in Series B funding.
The round was led by March Capital, with participation from return investors Costanoa Ventures, Foundry Group, Calibrate Ventures, and Ubiquity Ventures. March Partner Julia Klein join Parallel Domain’s board of directors.
The company, which has raised a total of $43.9m, intends to use the funds to continue to expand operations and its business reach.
Led by CEO Kevin McNamara, Parallel Domain works with perception, machine learning, data operations, and simulation teams at autonomous systems companies, from autonomous vehicles to delivery drones. Its platform generates synthetic labeled data sets, simulation worlds, and controllable sensor feeds so the company can develop, train, and test their algorithms safely before putting these systems into the real word.
