Twitter-like social media platform Parler raises $16M funding

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Photo Credit: Parler

From President Donald Trump to many other conservative politicians, a lot of them have been complaining about alleged anti-conservative bias on popular social media platforms like Facebook and Twitter. Sen. Ted Cruz and Brad Parscale, the campaign manager for Donald Trump, are two Republicans who believe they have recently discovered a more conservative-friendly platform: Parler, a Twitter competitor that describes itself as “an unbiased social media focused on real user experiences and engagement.”

Acquires cloud-services provider Dynascale

Parler has now announced the acquisition of Dynascale, a cloud company, in order to broaden its vision beyond offering a (ostensibly) anything-goes social app to provide infrastructure for businesses at risk of being dropped by mainstream providers.

As part of the overhaul, Parler claimed it has established a new parent company, Parlement Technologies Inc. The new company has raised a total of $56M in funding to date after completing a $16M fundraising round.

The new capital will fuel Parler’s vision to leapfrog the industry by building the free speech technology infrastructure and platform.

The company, which went dark after the US Capitol riot last year, did not reveal the purchase’s financial details or the names of investors who participated in the round.

The agreement with Dynascale, based in California, provides Parler with access to a cloud services provider with approximately 50,000 square feet of data centre space in the United States.

“We are entering a new era as Parlement Technologies, one that goes far beyond the boundaries of a free speech social media platform,” said Parlement Technologies CEO George Farmer. “Beginning today, we are building a new company that powers vital functions across business touch points from front-of-house customer viewpoints to back-of-house web infrastructure. We believe that Parlement Technologies will power the future. And the future is uncancelable.”

“We’re thrilled to be joining the Parlement team, especially now as the company enters a new and exciting era of forward-thinking leadership and innovation,” said Igor Shalkevich, former President of Dynascale Inc. and now Head of Business Development of Dynascale.  “Our solutions facilitate cloud maturity, and we’re honored to serve as the anchor for building out what will become an entire ecosystem to secure business infrastructure and help amplify free speech platforms.”

Parler was founded in 2018 by Jared Thomson, John Matze, Rebekah Mercer and bills itself as a free-speech platform for those looking for an alternative to platforms like Twitter Inc. (TWTR.N). It quickly grew in popularity among supporters of former US President Donald Trump.

Topping the charts

Parler topped the App Store charts in early January 2021, after President Trump was banned from Twitter and Facebook for inciting violence at the United States Capitol. However, the app’s success was short-lived, as Apple and Google removed it from their respective app stores after drawing a link between Parler and the January 6 violence. Amazon also yanked its web hosting, a trifecta of consequences that clearly had an impact on the company, even after it was restored to the good graces of the tech titans.

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