HomeAI Startup by Former Twitter CEO Raises Funding at $2B Valuation
Parallel Web Systems, the startup founded by former Twitter CEO Parag Agrawal, has raised $100 million in Series B funding, pushing its valuation to $2 billion.
Sequoia Capital led the round, with existing investors Kleiner Perkins, Index Ventures, and Khosla Ventures also joining. Parallel now employs about 50 people in Palo Alto, California. The company secured $100 million in Series A funding last November at a $740 million valuation, bringing its total funding to $2.3 billion to date.
Agrawal said the funding will go toward expanding sales and marketing teams and strengthening R&D. Founded less than three years ago, Parallel aims to serve enterprise clients with an efficient AI agent platform that handles various online tasks. He emphasized that AI agents will eventually use the internet more often than humans, requiring dedicated infrastructure to support them.
AI agents often need to perform deep research in areas like investment, risk underwriting, insurance claims, and government contracts—tasks humans usually do with web browsers. But AI agents can do them faster and at greater scale. Sequoia partner Andrew Reed noted that Parallel's success is tied to the rapid growth of long-running AI agents that can work autonomously in the background and maintain context over long periods, speeding up user requests.
AI legal startup Harvey uses Parallel's platform to power its AI agents, automating many research-heavy legal tasks. Harvey's president and co-founder Gabe Pereyra said that providing web search for AI agents is deceptively difficult. They need granular control over which websites the agents access, and Parallel delivers that.
Parallel says over 100,000 developers already use its infrastructure, from AI startups to large enterprises. The company competes in the AI agent market alongside others, and Reed described it as an "obvious" massive opportunity. Agrawal remains confident about Parallel's future, stating the company will keep expanding its product lineup and customer base.
Related article
Anthropic buys Stainless for $30M to control AI infrastructure and block rivals
Anthropic has officially completed its acquisition of developer tools firm Stainless, with reports indicating the deal value surpasses $30 million, per The Information. Founded by Alex Rattray, a former Stripe engineer, Stainless specializes in autom
ElevenLabs brings on BlackRock, Jamie Foxx and Longoria as new investors
ElevenLabs, a leader in Voice AI, has announced new participants in its $500 million Series D funding round, initially revealed in February. The investor roster now features major institutions like BlackRock, Wellington, D.E. Shaw, and Schroders, alo
How to fix Core Web Vitals for better SEO rankings
Ranking McDonald's Breakfast Menu: A Presidential Tier ListIntroductionMcDonald's Bakery ItemsApple FritterBlueberry MuffinCinnamon RollMcDonald's Breakfast SandwichesBacon, Egg, and Cheese BiscuitEgg McMuffinSausage McMuffinSausage Biscuit and Sausa
Related Special Topic Recommendations
Design & Art
Top AI Illustration Tools: Create Editorial Scenes and Cover Art Faster
2026 Latest Top-rated AI Illustration Tools: Our curated list features the best powerfully designed tools for creating stunning editorial scenes and eye-catching cover art quickly. Each option has gone through rigorous real-world tests, offering a free vs paid comparison to help you find the perfect match for your workflow. Try these must-try solutions today to unlock your AI edge and boost your creative productivity. Explore now at XIX.AI.
10 tools
xix.ai
Education and Learning
Top AI Tutors for Exam Prep: Practice Math, Science, and English
2026 Latest Top-Rated Best AI Tutors for Exam Prep are here on XIX.AI! Our curated list features powerful game-changing tools that offer free vs paid comparison, real-world tests, and weekly updated rankings. They help boost your writing efficiency, simplify complex topic learning, and unlock your academic potential. Explore now to Discover your perfect exam prep tool and Start creating today to Unlock your AI edge!
10 tools
xix.ai
Finance
AI Budget Planning Tools for Personal Money Management
2026 Latest Best Top-Rated AI Budget Planning Tools for Personal Money Management are here on XIX.AI! This curated collection features powerful, game-changing solutions that help you conduct real-world tests, understand spending habits, and create personalized plans to boost productivity. Enjoy a free vs paid comparison along with detailed rankings. Must-try tools designed to simplify money management and unlock your AI edge. Explore now!
11 tools
xix.ai
Health & Wellness
AI Sleep Tracking Assistants: Improve Recovery with Better Bedtime Habits
2026 Latest Best Top-Rated AI Sleep Tracking Assistants curated for ultimate recovery. This fully updated weekly guide features powerful tools that deliver real-world tests, free vs paid comparison, and detailed rankings to help you find the must-try solution that boosts sleep quality and supports better bedtime habits. Explore now at XIX.AI to Unlock your AI edge.
10 tools
xix.ai
Data Analysis
AI SQL Copilots for Product and Revenue Analytics
2026 Latest Best Top-Rated AI SQL Copilots for Product and Revenue Analytics! XIX.AI has curated a powerful, game-changing collection of must-try tools that undergo real-world tests through weekly updated rankings. These tools help users boost productivity significantly by accelerating data analysis, streamlining complex queries, and generating accurate insights to drive smarter business decisions. Explore now to Discover your perfect tool for unlocking your AI edge!
14 tools
xix.ai
Education and Learning
Best AI Homework Helpers That Teach: Learn Concepts, Not Just Answers
2026 Latest Best Top-Rated AI Homework Helpers That Teach Core Concepts Not Just Answers Powerful Tools for Students Must-Try Curated List Weekly Updated Free vs Paid Comparison Real-World Tests Accurate Rankings to Help You Unlock Your Full Learning Potential Explore now to Discover your perfect tool for smarter studying.
10 tools
xix.ai
Comments (0)
0/500
Parallel Web Systems, the startup founded by former Twitter CEO Parag Agrawal, has raised $100 million in Series B funding, pushing its valuation to $2 billion.
Sequoia Capital led the round, with existing investors Kleiner Perkins, Index Ventures, and Khosla Ventures also joining. Parallel now employs about 50 people in Palo Alto, California. The company secured $100 million in Series A funding last November at a $740 million valuation, bringing its total funding to $2.3 billion to date.
Agrawal said the funding will go toward expanding sales and marketing teams and strengthening R&D. Founded less than three years ago, Parallel aims to serve enterprise clients with an efficient AI agent platform that handles various online tasks. He emphasized that AI agents will eventually use the internet more often than humans, requiring dedicated infrastructure to support them.
AI agents often need to perform deep research in areas like investment, risk underwriting, insurance claims, and government contracts—tasks humans usually do with web browsers. But AI agents can do them faster and at greater scale. Sequoia partner Andrew Reed noted that Parallel's success is tied to the rapid growth of long-running AI agents that can work autonomously in the background and maintain context over long periods, speeding up user requests.
AI legal startup Harvey uses Parallel's platform to power its AI agents, automating many research-heavy legal tasks. Harvey's president and co-founder Gabe Pereyra said that providing web search for AI agents is deceptively difficult. They need granular control over which websites the agents access, and Parallel delivers that.
Parallel says over 100,000 developers already use its infrastructure, from AI startups to large enterprises. The company competes in the AI agent market alongside others, and Reed described it as an "obvious" massive opportunity. Agrawal remains confident about Parallel's future, stating the company will keep expanding its product lineup and customer base.
Anthropic buys Stainless for $30M to control AI infrastructure and block rivals
Anthropic has officially completed its acquisition of developer tools firm Stainless, with reports indicating the deal value surpasses $30 million, per The Information. Founded by Alex Rattray, a former Stripe engineer, Stainless specializes in autom
ElevenLabs brings on BlackRock, Jamie Foxx and Longoria as new investors
ElevenLabs, a leader in Voice AI, has announced new participants in its $500 million Series D funding round, initially revealed in February. The investor roster now features major institutions like BlackRock, Wellington, D.E. Shaw, and Schroders, alo
How to fix Core Web Vitals for better SEO rankings
Ranking McDonald's Breakfast Menu: A Presidential Tier ListIntroductionMcDonald's Bakery ItemsApple FritterBlueberry MuffinCinnamon RollMcDonald's Breakfast SandwichesBacon, Egg, and Cheese BiscuitEgg McMuffinSausage McMuffinSausage Biscuit and Sausa
2026 Latest Top-rated AI Illustration Tools: Our curated list features the best powerfully designed tools for creating stunning editorial scenes and eye-catching cover art quickly. Each option has gone through rigorous real-world tests, offering a free vs paid comparison to help you find the perfect match for your workflow. Try these must-try solutions today to unlock your AI edge and boost your creative productivity. Explore now at XIX.AI.
10 tools
xix.ai
2026 Latest Top-Rated Best AI Tutors for Exam Prep are here on XIX.AI! Our curated list features powerful game-changing tools that offer free vs paid comparison, real-world tests, and weekly updated rankings. They help boost your writing efficiency, simplify complex topic learning, and unlock your academic potential. Explore now to Discover your perfect exam prep tool and Start creating today to Unlock your AI edge!
10 tools
xix.ai
2026 Latest Best Top-Rated AI Budget Planning Tools for Personal Money Management are here on XIX.AI! This curated collection features powerful, game-changing solutions that help you conduct real-world tests, understand spending habits, and create personalized plans to boost productivity. Enjoy a free vs paid comparison along with detailed rankings. Must-try tools designed to simplify money management and unlock your AI edge. Explore now!
11 tools
xix.ai
2026 Latest Best Top-Rated AI Sleep Tracking Assistants curated for ultimate recovery. This fully updated weekly guide features powerful tools that deliver real-world tests, free vs paid comparison, and detailed rankings to help you find the must-try solution that boosts sleep quality and supports better bedtime habits. Explore now at XIX.AI to Unlock your AI edge.
10 tools
xix.ai
2026 Latest Best Top-Rated AI SQL Copilots for Product and Revenue Analytics! XIX.AI has curated a powerful, game-changing collection of must-try tools that undergo real-world tests through weekly updated rankings. These tools help users boost productivity significantly by accelerating data analysis, streamlining complex queries, and generating accurate insights to drive smarter business decisions. Explore now to Discover your perfect tool for unlocking your AI edge!
14 tools
xix.ai
2026 Latest Best Top-Rated AI Homework Helpers That Teach Core Concepts Not Just Answers Powerful Tools for Students Must-Try Curated List Weekly Updated Free vs Paid Comparison Real-World Tests Accurate Rankings to Help You Unlock Your Full Learning Potential Explore now to Discover your perfect tool for smarter studying.
10 tools
xix.ai
