Parallel Web Systems raises $100M Series B at $2B valuation five months after Series A

Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, raised $100 million in a Sequoia Capital-led Series B at a $2 billion valuation, bringing total capital raised to $230 million just five months after its $100 million Series A at $740 million. Existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, Terrain Capital, and Abstract Ventures participated. Sequoia partner Andrew Reed will join the board. Parallel provides web search and research APIs for AI agents, with 100,000+ developers and enterprise customers including Clay, Harvey, Notion, Opendoor, Attio, Modal, and Rogo. The company employs roughly 50 people and is headquartered in the San Francisco Bay Area.