KDDI Open Innovation Fund III Invests in Parallel Corp., Operator of "Parallel", the Voice Call App That Allows Users to Play With Their Friends and Is Popular With the Digital Native Segment
June 11, 2021
On June 11, 2021, KDDI invested in Parallel Corporation (Headquarters: Minato-ku, Tokyo; Representative Director and CEO: Jo Aoki and Daiki Toshihara; hereinafter "Parallel Corp."), the operator of "Parallel", the voice call app that allows users to play with their friends and is popular with the digital native segment, through the KDDI Open Innovation Fund III (operated by Global Brain Corporation; hereinafter "KOIF III") which aims to incubate new business co-creations with promising venture startups.
The "Parallel" service provided by Parallel Corp. is a social networking service specializing in private voice communication that can be enjoyed by its users. The service is unique in that it allows users to talk while enjoying games, videos, and other online content together with their friends. After the service started in August 2019, its popularity grew among young adults in their teens and twenties as a result of increased demand for online communication due to the spread of the novel coronavirus infection and has reached over one million total downloads in a little over a year with each user spending three hours on average using the service. The goal of Parallel is to create an "online gathering spot" where users can casually meet with their friends and share content or time together.
KDDI aims through this investment to provide new forms of experience value to the young generation by crossing Parallel's strengths in user points of contact centered around the youth segment with various services. In addition, KDDI will provide various assets which it possesses to support the business growth of Parallel Corp.
As "the company that continues to offer excitement," KDDI will continue to promote business co-creation through investment in promising startup companies, and create new business models together with customers and partners.
- 1. About Parallel
- ■About KDDI Open Innovation Fund
- KDDI Open Innovation Fund is a corporate venture fund that supports a broad range of venture companies. The currently active KDDI Open Innovation Fund III focuses on areas of entertainment, home, IoT, big data, and Fintech with a total operating fund of 20 billion yen.