Formal analysis is an invaluable tool for software engineers, yet state-of-the-art formal analysis techniques suffer from well-known limitations in terms of scalability. In particular, some software design domains—such as tradeoff analysis and security analysis—require systematic exploration of potentially huge model spaces, which further exacerbates the problem. Despite this present and urgent challenge, few techniques exist to support the systematic exploration of large model spaces. This paper introduces Parasol, an approach and accompanying tool suite, to improve the scalability of large-scale formal model space exploration. Parasol presents a novel parallel model space synthesis approach, backed with unsupervised learning to automatically derive domain knowledge, guiding a balanced partitioning of the model space. This allows Parasol to synthesize the models in each partition in parallel, significantly reducing synthesis time and making large-scale systematic model space exploration for real-world systems more tractable. Our empirical results corroborate that Parasol substantially reduces (by 460% on average) the time required for model space synthesis, compared to state-of-the-art model space synthesis techniques relying on both incremental and parallel constraint solving technologies as well as competing, non-learning-based partitioning methods.