Parallel

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

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

• Medical cannabis products
• Vertically integrated cannabis
• Cannabis retail dispensary
• Cannabis cultivation processing
• Multi-state cannabis operator

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. 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.
2. 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

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core 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

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• Wana BrandsflagshipStrategic or Co-development Partner · 29 June 2023Surterra 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)flagshipStrategic or Co-development Partner · 15 February 2022Partnership 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.
• HeallycoreTechnology or Integration · 16 September 2020Exclusive 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 MedicinecoreStrategic or Co-development PartnerMedical 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 MastermindflagshipGTM or Marketing PartnerCo-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 MarijuanacoreGTM or Marketing PartnerPartnership to provide free medical marijuana certifications to over 500 Floridians in familiar community settings, addressing cost barriers to cannabis access.
• LeafwellcoreGTM or Marketing PartnerPartnership to grant Texans access to wellness through affordable medical cannabis certifications. 100 additional individuals gained access through this partnership.
• Nu ProjectminorGTM or Marketing PartnerPartnership to foster entrepreneurship by supporting underrepresented founders in the cannabis industry.
• Black Canna ConferenceminorGTM or Marketing PartnerPartnership supporting the ongoing Hot Box Pitch Competition to promote Black entrepreneurs in cannabis.
• CookiescoreStrategic or Co-development PartnerJoint venture with Cookies retail brand in Nevada, providing access to Cookies' popular product lines and brand equity in the Nevada market.
• Let's Talk WeedminorStrategic or Co-development PartnerCommunity partner working to advance social equity and inclusivity in the cannabis industry alongside Parallel.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct 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

• LinkedInlinkedin.com/company/live-parallel
• Instagraminstagram.com/live_parallel
• Xx.com/live_parallel

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds8 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parallel