Crypto / Web3Silicon Valley / Bay Area

Parasail

Crypto / Web3 · San Mateo, CA

AI inference supercloud — pay-per-token GPU access without long-term contracts. San Mateo CA. Founded 2023 by Mike Henry (fmr Mythic, raised $165M) and Tim Harris (fmr Swift Navigation CEO, raised $250M). Launched April 2025. $42M total ($10M seed + $32M Series A April 2026). Series A led by Touring Capital + Kindred Ventures. Also: Samsung NEXT, Flume Ventures, Banyan Ventures. 500B+ tokens/day. 30% MoM revenue growth. Customers: Elicit, mem0, Gravity, Kotoba, Venice. 40 data centers, 15 countries.

Founded

Region

Silicon Valley / Bay Area

Investors

People

About Silicon Valley

Before venture capital and chip startups, the region was seeded by government-funded and corporate research — Stanford Research Institute (SRI) did defense-funded applied research there from the 1940s on, and Xerox PARC, decades later, quietly invented the graphical interface and Ethernet inside a copier company's research lab. Silicon Valley is a string of towns down the peninsula between San Francisco and San Jose, named for the semiconductor firms — Fairchild, Intel — that came out of that same research culture, with Sun Microsystems later carrying the workstation-and-networking era forward before software and then AI layered on top. Stanford anchors it and UC Berkeley sits across the bay. What the region chose to build shifted with each era without ever fully leaving the last one behind — chip design, enterprise software, and frontier AI labs still operate there, often within a few miles of each other.

Region Stats

Total firms 293

VC / investors 108

Companies 165

Schools 20

Known For

Software

Semiconductors