Ex-Twitter CEO Parag Agrawal Hits $2 Billion Valuation With Parallel Web Systems $100M Series B

Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, raised $100 million in Series B funding at a $2 billion valuation, just five months after a $100 million Series A at a $740 million valuation. The round was led by Sequoia with participation from Kleiner Perkins, Index Ventures, Khosla Ventures, and First Round Capital. The company provides web search and research APIs for AI agents, serving over 100,000 developers and enterprise customers including Clay, Harvey, Notion, and Opendoor, plus undisclosed banks and hedge funds. Total capital raised is now $230 million.