Other Deals
Ex-Twitter CEO Parag Agrawal’s Parallel Web Systems raises $100-M led by Kleiner Perkins, Index Vent
Palo Alto, CA (USA)-based Parallel Web Systems , founded by former Twitter CEO Parag Agrawal, has raised USD 100 million in a Series A funding round. The round was co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing backers. This investment valued the company at USD 740 million, post-money.Founded in 2023, Parallel Web Systems builds infrastructure and tools that enable AI agents to interact intelligently with the web. The company offers a cloud-based deep research API (Application Programming Interface) that allows AI applications to conduct real-time internet research, access and synthesise public web data, and provide detailed citations.Parallel Web Systems had earlier raised about USD 30 million in January 2024 and officially launched its product in August 2025.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
