According to ChainCatcher, citing The Wall Street Journal, Parallel Web Systems, an AI infrastructure company founded by former Twitter CEO Parag Agrawal, has completed a $100 million Series B round, bringing its post-money valuation to $2 billion. The round was led by Sequoia Capital, with participation from existing investors including Kleiner Perkins, Index Ventures, and Khosla Ventures. Parallel provides efficient web search and access control infrastructure for "long-duration" AI agents. To date, the company has raised a total of $230 million, employs approximately 50 people, and serves over 100,000 developers and enterprise customers. The company is currently focused on expanding its sales, marketing, and R&D teams to further develop enterprise-grade "AI agents accessing the web" solutions.
Parallel Web Systems Completes $100M Series B Funding Led by Sequoia Capital
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Summary
Parallel Web Systems, an AI infrastructure project founded by former Twitter CEO Parag Agrawal, has closed a $100 million Series B funding round led by Sequoia Capital. The funding news values the company at $2 billion; it develops search and access control systems for long-cycle AI agents. Existing investors Kleiner Perkins, Index Ventures, and Khosla Ventures also participated in the round. The company has now raised a total of $230 million. As AI and crypto news continues to gain momentum, Parallel Web Systems remains a key player in the space.
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