According to Beating, Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, completed a $100 million Series B round led by Sequoia Capital, valuing the company at $2 billion. Kleiner Perkins, Index Ventures, and Khosla Ventures also participated. The funding comes six months after the company raised $100 million in Series A at a $740 million valuation, nearly tripling its valuation.
Parallel builds web search infrastructure for AI agents handling complex research tasks such as investment analysis and insurance claims processing. The company currently employs about 50 people and serves over 100,000 developers. Legal AI company Harvey, a key customer, uses Parallel's infrastructure to control which websites agents can access.
