Parallel Web Systems hits $2B valuation five months after last raise, totaling $230M raised

Parallel Web Systems, the AI agent infrastructure startup founded by former Twitter CEO Parag Agrawal, raised a $100 million Series B at a $2 billion valuation led by Sequoia, just five months after its $100 million Series A at $740 million in January 2026. The company provides web search and research APIs specifically built for AI agents, with customers including Clay, Harvey, Notion, and Opendoor, plus undisclosed banks and hedge funds. Sequoia partner Andrew Reed will join Parallel's board. The speed of valuation growth ($740M to $2B in 5 months) is extraordinary even by AI boom standards and signals intense investor appetite for AI agent infrastructure.