Parallel Raises $100M Series A

Parallel Web Systems, an AI search startup founded by former Twitter CEO Parag Agrawal, has raised US$100 million in Series A funding, valuing the company at US$740 million.

What They Build. Parallel provides APIs that let AI systems search the live web for fresh, task-relevant information, returning structured tokens instead of human-oriented links.

Funding Details. The round was co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing investors.

Product Traction. Enterprise customers use Parallel to power AI agents that write code, analyze customer data, and assess risk, tasks that require high-quality, up-to-date web signals.

Expansion Plans. The new capital will support product development, customer acquisition, and efforts to navigate access to paywalled or login-restricted web content.

Strategic Direction. Agrawal said the company plans to build an “open market mechanism” to incentivize publishers to allow AI access, though details remain undisclosed.

If Parallel can solve the economic and access barriers around live web data, it could become foundational infrastructure for AI agents that increasingly depend on real-time information.