Parallel Web Systems raises $100 million Series B at $2 billion valuation, five months after $100 million Series A

Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, raised $100 million in Series B funding led by Sequoia Capital at a $2 billion valuation. The round included participation from existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital, bringing total capital raised to $230 million.

The company offers web search and research APIs built for AI agents (software that autonomously completes tasks). Named customers include Clay, Harvey, Notion, and Opendoor, along with banks and hedge funds whose identities remain undisclosed.

Parallel reports over 100,000 developers using its products. This Series B closes just five months after the company announced its Series A at a $740 million valuation.