Ex-Twitter CEO Parag Agrawal Hits $2B Valuation With Parallel Web Systems Series B
By James Dargan · · 1 min read
Parallel Web Systems, the AI agent research platform founded by former Twitter CEO Parag Agrawal, has raised a $100 million Series B at a $2 billion valuation, led by Sequoia. Existing backers including Kleiner Perkins, Index Ventures, Khosla Ventures, and First Round Capital also participated, bringing total capital raised to $230 million.
The round arrives just five months after a $100 million Series A at a $740 million valuation, reflecting rapid investor confidence in the platform’s growth. Parallel provides web search and research APIs built specifically for AI agents, serving over 100,000 developers and enterprise customers including Clay, Harvey, Notion, and Opendoor, as well as undisclosed banks and hedge funds.
The raise marks a significant chapter for Agrawal, whose previous role at Twitter ended abruptly when Elon Musk acquired the platform and terminated its top executives.
