Parallax, a digital professional services company, announced Wednesday it raised $7 million in funding.
The Edina-based company offers businesses a professional-services automation platform to optimize revenue and growth through data forecasting.
The Series A round of funding was led by Arlington, V.A.-based Grotech Ventures. Other investors included Minneapolis-based Matchstick Ventures and Minneapolis-based Rally Ventures.
Parallax said it will use the funding to innovate its platform and add talent to keep up with demand.
The company saw a 224% increase in year-over-year growth. It now expects that momentum will lead to a 200% increase in revenue in 2022.
"We have been on our customers’ side as veterans of the services industry, so Parallax was founded as a means to alleviate the constant cycle of reactivity by delivering real-time business insights that finally help businesses operate in smarter, healthier and happier ways,” said Tom O’Neill, founder and CEO of Parallax.
