Parallel Web Systems hits $2B valuation just five months after $740M Series A

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 closing a $100 million Series A at a $740 million valuation in November 2025. Sequoia Capital led the round with participation from Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital, bringing total capital raised to $230 million. The company builds web search and research APIs purpose-built for AI agents and reports over 100,000 developers on its platform, with customers including Harvey, Notion, Opendoor, and Clay. The rapid valuation jump from $740M to $2B in five months ranks among the fastest in AI startup history and signals intense investor conviction in AI agent infrastructure as a foundational layer of the emerging agentic web.