Parabol

Parabol, founded in 2015 by Jordan Husney, is a tool designed for agile product development teams to be used for retrospective meetings and check-ins. The tool allows participants to exchange ideas and feedback on development processes and aims to make collaboration more productive and less dependent on scrum masters.

Jordan’s experience in managing distributed teams and corporate advisory led to two observations: 1) the emergence of collaboration tools leading to a shift to remote teams 2) and consequently, the challenge of holding productive meetings remotely. Ultimately, the idea for Parabol came into effect.

Parabol’s product is directly aimed at agile software and product development teams, mainly in the small and medium enterprise (SME) and large enterprise category which employ two or more remote members. Its peer customer profiles also include large enterprises such as Microsoft, Thomson Reuters, Airbus, Amazon, and Adobe. As of March 2021, the platform has 100,000 users across 3,000 companies worldwide.

In March 2021, the company raised USD 8 million in a Series A funding round led by Microsoft’s venture fund, M12. The round included participation from Techstars, CRV, and Haystack. According to the CEO, Jordan Husney, the round will give the company about a 24-month runway during which he plans to triple the team headcount to 30. The company plans to grow its revenue 4x in 2021 and 3x in 2022. Additionally, it has hefty goals for its user growth, aiming to grow fivefold to 500,000 in 2021 and to 1 million users in 2022.