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Parallel Web Systems, a startup founded by former Twitter CEO Parag Agrawal, has raised USD 100 million in a Series A funding round.
The investment was co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing investors.
According to a report by The Economic Times, the funding round values the company at about USD 740 million post money.
The new capital will be used to speed up product development, attract more customers, and tackle web access challenges such as paywalls and login restrictions.
This follows an earlier funding of USD 30 million in January 2024, with the company officially launching its product in August 2025.
Founded in 2023, Parallel Web Systems develops tools and infrastructure that enable AI agents to interact with the web intelligently. Its cloud-based deep research API allows AI applications to perform real-time internet research, gather public data, and generate detailed citations.
The company's flagship offering includes eight specialised AI research engines designed for various computational tasks. These systems help AI agents handle complex research and synthesis work. Parallel claims its technology surpasses top AI models in web research benchmarks.
Parallel's AI-powered web agents are used by enterprises for coding support, research automation, and workflow management, competing with major players like OpenAI and Google.
This article was originally published by the Entrepreneurindia.com. To read the full version, visit here 
