Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, has raised a $100 million Series B at a $2 billion valuation. This comes just five months after raising a $100 million Series A at a $740 million valuation.
The startup offers web search and research APIs for AI agents, with notable customers including Clay, Harvey, Notion, and Opendoor. Banks and hedge funds are also said to be among its users, though identities remain undisclosed.
This boost in funding is particularly sweet for Agrawal after his tenure at Twitter ended in a lawsuit dispute over severance pay. Elon Musk famously fired the top execs, including Agrawal, sparking a legal battle that concluded with an undisclosed settlement in October.
Parallel also boasts more than 100,000 developers using its products, showing strong uptake and interest in their technology. The rapid rise of Parallel Web Systems is a testament to the ever-changing landscape of tech and the potential power of AI tools.
