Surterra (operating parent: Surterra Holdings, Inc. d/b/a Parallel) is a vertically integrated U.S. multi-state cannabis operator founded in 2014 by Jake Bergmann and Wes Van Dyk. Headquartered in Atlanta, Georgia, the company cultivates, processes, and dispenses medical and adult-use cannabis through its Surterra Wellness brand in Florida and historically operated assets in Texas, Nevada, Pennsylvania and Massachusetts. Former Wm. Wrigley Jr. Co. CEO William 'Beau' Wrigley Jr. led the company starting in 2018, raising more than $700M in equity and debt. A planned $1.9B SPAC merger with Ceres Acquisition Corp. (Scooter Braun-backed) was terminated in September 2021. Following financial distress, Parallel entered a strict foreclosure agreement with SunStream Bancorp (a JV sponsored by SNDL Inc.) in September 2023, transferring its U.S. cannabis operations to a newly formed entity, SunStream USA. The Surterra Wellness brand continues to operate Florida dispensaries.
Parallel (Other Pharmaceuticals and Biotechnology) has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2014
Employees
501–1,000
Total Funding
$349.8M
6 rounds
Total raised $349.8M across 6 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Debt
Date
December 8, 2022
Amount
$10M
Valuation
—
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| December 8, 2022 | Debt | $10M | — | |
| June 27, 2019 | Series D | $100M | — | |
| November 2018 | Series C | $65M | — | William "Beau" Wrigley Jr. |
William "Beau" Wrigley Jr.
Chairman & CEO (Parallel)
Jake Bergmann
Co-Founder (former CEO)
Wes Van Dyk
Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Trulieve Cannabis
Florida-based vertically integrated MSO and the largest cannabis dispensary operator in Florida; competes directly with Surterra Wellness in the Florida medical and adult-use markets.
Curaleaf Holdings
Large U.S. cannabis MSO operating dispensaries in Florida and across multiple states; key competitor in vertical integration and retail footprint.
Green Thumb Industries
U.S. cannabis MSO with national dispensary footprint and consumer brand portfolio; competes with Surterra in retail and branded cannabis products.
Verano Holdings
Vertically integrated U.S. cannabis MSO with operations in Florida and other key medical/adult-use markets.
Cresco Labs
U.S. cannabis MSO and branded consumer products company competing in retail and wholesale cannabis markets.
Ayr Wellness
Vertically integrated U.S. MSO with significant Florida footprint; direct retail competitor to Surterra Wellness.
Access live market data
Sign UpData collected with AI, which can make mistakes. Please double-check this information.