Parallel Web Systems raises $100M Series B at $2B valuation

Parallel Web Systems, the AI agent-tool startup founded by former Twitter CEO Parag Agrawal, has raised a $100 million Series B at a $2 billion valuation led by Sequoia. Existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital also participated. This raise comes just five months after the startup announced its $100 million Series A at a $740 million valuation led by Kleiner and Index. The new round brings the total capital raised by the company to $230 million. Parallel offers a suite of web search and research APIs specifically for AI agents. Its customers include Clay, Harvey, Notion, and Opendoor, as well as banks and hedge funds that the company has not named. Parallel says it has over 100,000 developers using its products.