Parallel
- Company typePrivate
- Founded2016
- HeadquartersAtlanta, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingHardware or Manufacturing
Parallel firmographics
Firmographics- Name
- Parallel
- Legal name
- Surterra Holdings, Inc.
- Website
- https://liveparallel.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
Parallel industry classification
Industry- Product category
- Medical Cannabis Products
- NAICS
- Pharmacies and Drug Retailers (45611)
- SIC
- Retail-Drug Stores And Proprietary Stores (5912)
- akta.pro primary industry
- Dual-License Cannabis Dispensaries (Adult-Use + Medical) (CRANAFAC)
- akta.pro secondary industries
- Cannabis Online Ordering for Dispensary Pickup (Click-and-Collect) (CRANAGAC), Cannabis Dispensary + Wellness/Apothecary Format (Supplements, Skincare, etc.) (CRANAFAJ)
Keywords
Where Parallel is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
Parallel business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Cannabis Retail Sales: Parallel generates revenue through direct-to-consumer retail sales of cannabis products across its approximately 50 retail stores in four states, plus e-commerce with contactless delivery. Products include tinctures, lotions, lozenges, gummies, vaporizers, capsules, and topical patches sold under proprietary brands.
- Wholesale/B2B Distribution: The company operates as a vertically-integrated multi-state operator, selling products both through owned retail channels and potentially to other licensed operators in certain markets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Cannabis-infused lozenges - $30 per package |
| Unit Pricing | Pay-as-you-go | Cannabis-infused lotions - $60 per jar |
| Unit Pricing | Pay-as-you-go | Cannabis-infused gummies - $60 per package |
| Subscription | Pay-as-you-go | Physician consultations via CannaBus - $150 |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Parallel product offering
Product offeringCore offering
Parallel is a vertically integrated multi-state cannabis operator that cultivates, manufactures, and sells proprietary medical and adult-use cannabis products through approximately 50 owned retail dispensaries across Florida, Massachusetts, Texas, and Nevada. Its portfolio spans multiple product formats (tinctures, lozenges, topical lotions, gummies, vaporizers, capsules, and patches) with tailored CBD:THC ratios and proprietary terpene profiles, sold under brands including Surterra Wellness, NETA, goodblend, and The Apothecary Shoppe.
Product overview
Parallel is a multi-state vertically-integrated cannabis company operating approximately 50 retail stores across four states. The company offers a portfolio of retail brands including Surterra Wellness (Florida, 45 stores), NETA/New England Treatment Access (Massachusetts, 3 stores), and goodblend (Texas, 3 stores). Its product portfolio includes proprietary branded products under sub-brands Heights and Float, along with THC/CBD tinctures (Tranquil 19:1, Serene 4:1, Soothe 1:1), lozenges (Soothe and Relief Watermelon), topical lotions (Tranquil and Soothe), and the first CBN sleep product in Texas (Dream +CBN). The company also partners with Wana Brands for cannabis-infused gummies in Florida and offers innovative services including the goodblend CannaBus mobile dispensary and telehealth consultations through the Heally platform. Through its Parallel Biosciences subsidiary, the company conducts advanced cannabis science and R&D for new product development.
Differentiator
Problem solved
Functional benefit
Products and services
- Surterra Wellness (Florida Retail Dispensary Brand) Primary retail dispensary brand of Parallel, operating 45 medical marijuana treatment centers across Florida. Provides a curated selection of cannabis products including tinctures, topicals, lotions, vaporizers, lozenges, gummies, and capsules for registered medical patients.
- NETA – New England Treatment Access (Massachusetts Retail Dispensary Brand) Retail cannabis brand operating 3 dispensaries in Massachusetts (Northampton, Brookline, Franklin). Serves both medical marijuana patients and adult-use recreational consumers.
- goodblend (Texas Retail Dispensary Brand) Retail cannabis brand operating 3 dispensaries in Texas. Provides medical cannabis products with telehealth consultations, home delivery, and partner clinic pickups for registered patients under the Texas Compassionate Use Program.
- Heights (Cannabis Sub-Brand) Wellness-oriented cannabis product sub-brand under Surterra Wellness positioned for customers seeking enhanced well-being through cannabinoids.
- Float (Cannabis Sub-Brand) Daily-wellness cannabis product sub-brand under Surterra Wellness designed to help customers with positive mindset and lifestyle.
- Dream +CBN Tincture First CBN cannabis tincture launched in Texas, formulated with a proprietary Dream terpene profile and 2:1 CBN-to-THC ratio designed to support sleep quality by binding to both endocannabinoid and GABA receptors.
- Surterra Texas Cannabis-Infused Gummies First cannabis-infused gummies in Texas, sold in Texas Orange (Sativa) and Tropical Paradise (Indica) flavors, with 5mg THC or 1:1 CBD:THC options and proprietary terpene profiles.
- Surterra Texas Cannabis-Infused Lozenges First cannabis-infused lozenges in Texas, available in Soothe Watermelon (1:1 CBD:THC) and Relief Watermelon (1:9 CBD:THC) variants for convenient sublingual dosing.
- Surterra Texas Cannabis-Infused Lotions First cannabis-infused topical lotions in Texas, available as Tranquil (19:1 CBD:THC) and Soothe (1:1 CBD:THC) for localized relief.
- Surterra Texas Cannabis Tinctures (Tranquil, Serene, Soothe) CBD:THC tincture lineup sold under the Texas Compassionate Use Program: Tranquil (19:1), Serene (4:1), and Soothe (1:1), each formulated with targeted proprietary terpene profiles.
- Wana Cannabis-Infused Gummies (Florida) Premium cannabis-infused gummies from Wana Brands distributed through Surterra Wellness Florida dispensaries, available in Blueberry Indica, Watermelon Hybrid, Mango Sativa, and Strawberry Lemonade 1:1 varieties.
- goodblend CannaBus Mobile Dispensary Tour Mobile cannabis dispensary and educational tour service bringing medical cannabis access, physician consultations ($150 per 20-minute consultation), and on-board product fulfillment to Texas communities.
- goodblend Virtual Clinic (Heally Telehealth) Telehealth service enabling prospective patients to schedule online consultations with board-certified physicians for medical cannabis evaluations and prescriptions under the Texas Compassionate Use Program.
Quantifiable outcome
- CEO Intensive program reached over 150 cannabis entrepreneurs across the country
- +3 more outcomes
Companies that use Parallel
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Parallel technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
Parallel partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered flagship, core and minor.
- Wana BrandsflagshipSurterra Wellness and Wana Brands partnership launched premium cannabis-infused gummies across all Surterra dispensaries in Florida. Wana's products include Blueberry Indica, Watermelon Hybrid, Mango Sativa, and Strawberry Lemonade 1:1 gummies. Wana is North America's leading cannabis edibles producer with $300M in annual retail sales.
- Minority Cannabis Business Association (MCBA)flagshipPartnership to advance social equity in cannabis industry. MCBA commissioned a full report on industry inequities with state and federal policy recommendations. Parallel pledged resources to advocate for fundamental changes and committed to working with state legislators to advance equitable policies.
- HeallycoreExclusive partnership with Heally telehealth platform to provide Texans easy access to doctors for online medical cannabis evaluations and prescriptions. Board-certified physicians specialize in internal medicine, neurology, pediatrics, and family medicine. Patients pay a fee only if the physician deems medical cannabis appropriate.
- University of Pittsburgh School of MedicinecoreMedical cannabis research partnership focused on clinical trials evaluating the impact of cannabis on chronic pain patients and various symptoms of sickle cell disease. One of the leading medical research schools in the world.
- BCB MastermindflagshipCo-created CEO Intensive national education series to increase minority ownership in cannabis industry and provide tools, resources, and education for longevity and success. Program has reached over 150 cannabis entrepreneurs across the country since 2022.
- Minorities for Medical MarijuanacorePartnership to provide free medical marijuana certifications to over 500 Floridians in familiar community settings, addressing cost barriers to cannabis access.
- LeafwellcorePartnership to grant Texans access to wellness through affordable medical cannabis certifications. 100 additional individuals gained access through this partnership.
- Nu ProjectminorPartnership to foster entrepreneurship by supporting underrepresented founders in the cannabis industry.
- Black Canna ConferenceminorPartnership supporting the ongoing Hot Box Pitch Competition to promote Black entrepreneurs in cannabis.
- CookiescoreJoint venture with Cookies retail brand in Nevada, providing access to Cookies' popular product lines and brand equity in the Nevada market.
- Let's Talk WeedminorCommunity partner working to advance social equity and inclusivity in the cannabis industry alongside Parallel.
Scale indicators7 records
Recent moves9 records
Expansion highlights5 records
Parallel competitors and assessment
Company assessmentDirect peers
- Trulieve Cannabis: Vertically-integrated US MSO with dominant Florida presence and expansion across multiple states. Closest comparable to Parallel given shared Florida-heavy footprint, vertical-integration strategy, and similar retail-brand portfolio approach.
- Curaleaf Holdings: Largest US MSO by retail footprint with operations across ~20 states. Direct peer to Parallel given multi-state vertical-integration model, branded product portfolio, and cultivation-to-retail control.
- Green Thumb Industries: Vertically-integrated cannabis MSO operating retail, cultivation, and branded products across multiple US states. Comparable to Parallel in operating model, branded consumer product focus (RISE, Beboe, Dr. Solomon's), and multi-state license strategy.
- Cresco Labs: Vertically-integrated MSO with retail (Sunnyside), cultivation, and branded product operations across US states. Comparable to Parallel in vertically-integrated structure, multi-state footprint, and branded-product portfolio (High Supply, Mindy's).
- Verano Holdings: Vertically-integrated US cannabis MSO with multi-state retail, cultivation, and wholesale operations. Direct peer to Parallel in operating model, branded product strategy (MENU, Encore, Avexia), and license-portfolio expansion approach.
- Columbia Care: Multi-state vertically-integrated cannabis operator with retail, cultivation, and processing across the US. Comparable to Parallel given multi-state MSO structure, focus on medical and adult-use markets, and product-format diversification.
- Ayr Wellness: Vertically-integrated cannabis MSO operating in multiple US states across retail, cultivation, and processing. Comparable to Parallel in scale, multi-state footprint, and strategy of expansion through licenses and acquisitions.
- Ascend Wellness Holdings: Vertically-integrated cannabis MSO with retail, cultivation, and wholesale operations in limited-license US states. Direct peer to Parallel given multi-state operator model and focus on both medical and adult-use markets.
Emerging players
- Cookies: Cannabis lifestyle brand and retail operator with strong consumer brand equity and selective multi-state footprint. Comparable to Parallel as Parallel operates a Cookies retail JV in Nevada and the brand represents a similar premium-consumer-positioning play within MSO distribution models.
Others
- Wana Brands: Largest North American cannabis edibles brand ($300M annual retail sales) and Parallel's Florida gummy partner. Highly relevant as a brand-and-product comparable (edibles, branded SKUs) and ecosystem supplier to MSO retail, though not a direct competitor to Parallel's retail operations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Parallel social profiles
Digital presenceParallel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parallel leadership team
Management profileNumber of profiles
Profiles7 records
Parallel subsidiaries and ownership
Company hierarchySubsidiaries6 records
Parallel funding detail
Funding detailFunding overview
Funding rounds8 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parallel M&A and investment
M&A and investmentM&A3 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parallel
What does Parallel do?
Parallel is a vertically integrated multi-state cannabis operator that cultivates, manufactures, and sells proprietary medical and adult-use cannabis products through approximately 50 owned retail dispensaries across Florida, Massachusetts, Texas, and Nevada. Its portfolio spans multiple product formats (tinctures, lozenges, topical lotions, gummies, vaporizers, capsules, and patches) with tailored CBD:THC ratios and proprietary terpene profiles, sold under brands including Surterra Wellness, NETA, goodblend, and The Apothecary Shoppe.
Is Parallel a public or private company?
Parallel is a private company. It is classified as venture growth investor backed and is currently operating.
When was Parallel founded?
Parallel was founded in 2016. It employs 1,001 to 5,000 people.
Where is Parallel based?
Parallel is headquartered in Atlanta, United States, in the North America region.
How does Parallel make money?
Two revenue lines are on record. Cannabis Retail Sales are the primary driver. The others are wholesale/B2B Distribution.
Who are Parallel's main competitors?
Direct peers on record are Trulieve Cannabis, Curaleaf Holdings, Green Thumb Industries, Cresco Labs, Verano Holdings, Columbia Care, Ayr Wellness and Ascend Wellness Holdings. Cookies is listed as an emerging player. Wana Brands is listed as an others.
Does Parallel have an API?
No public API is recorded for Parallel.
What industry is Parallel in?
Parallel's product category is Medical Cannabis Products. Its primary akta.pro industry code is CRANAFAC, Dual-License Cannabis Dispensaries (Adult-Use + Medical), with a secondary code of CRANAGAC, Cannabis Online Ordering for Dispensary Pickup (Click-and-Collect). Its NAICS code is 45611 and its SIC code is 5912.