The leading provider of automation and virtualization software for cloud services, Parallels has raised an undisclosed amount of venture capital funding from Siguler Guff‘s Russian investment arm, Russia Partners, which led the round, and Bessemer Venture Partners.
Founded in 1999, Parallels has numerous sales and business offices across the U.S., Europe and Asia and significant research and development operations in Russia. The annual revenues of Parallels exceed $100 million. The company, which has more than 700 employees, is led by CEO Serguei Beloussov.
In 2005, Parallels (formerly SWsoft) raised its first institutional round of funding from Intel Capital, Bessemer Venture Partners, and Insight Venture Partners. In 2009, Almaz Capital part acquired Insight’s share in Parallels.
In 2006, Siguler Guff & Company invested in EPAM Systems, global leader in software engineering services with offices in Russia, Belarus, Ukraine and Hungary. Russia Partners‘ latest fund, Russia Partners III with comitted capital of $626 million was raised in 2008.