Former Twitter CEO Parag Agrawal’s artificial intelligence startup, Parallel Web Systems, has secured USD 100 million in Series A funding to advance its mission of creating web search infrastructure tailored for AI agents and building strategic partnerships with online content owners, as reported.
The funding round co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing investors, values the San Francisco-based startup at USD 740 million.
Speaking about the company’s vision, Agrawal said, “How many jobs are there where we could turn off web access and ask you to do the same job fully? You can’t deprive an M&A lawyer from not being able to use the web, so why would you deprive their agents?”
Founded a couple of years ago, Parallel Web Systems previously raised USD 30 million in January 2024. The company is now taking bold steps toward building a new layer of the internet, one that is optimized for machine use instead of traditional human browsing.
Its innovative technology enables AI systems to query and extract live, real-time web data through application programming interfaces (APIs). This capability could revolutionize how autonomous AI agents handle complex digital tasks such as coding, data analysis, and decision-making.
In an interview, Agrawal revealed that Parallel’s enterprise clients already leverage its APIs to empower AI systems that generate software code, analyze customer data for sales operations, and assess risk for insurance companies. According to him, such use cases rely heavily on high-quality, dynamic web data seamlessly integrated with internal systems.
Parallel Web Systems is addressing the growing demand for dependable, real-time web access as generative AI increasingly depends on current, live information rather than static datasets. By offering structured access points to the web, the startup aims to position itself as a key enabler of AI-driven automation across industries worldwide.
As the line between the digital and intelligent web continues to blur, Agrawal’s vision places Parallel Web Systems at the forefront of a new era—where machines can think, learn, and act using live web data.
