PANews
PANews|Apr 29, 2026 10:09
[Former Twitter CEO's AI Company Parallel Web Systems Completes $100 Million Series B Financing] According to The Wall Street Journal, Parallel Web Systems, an AI infrastructure company founded by former Twitter CEO Parag Agrawal, has completed a $100 million Series B financing round, with a post-money valuation of $2 billion. The round was led by Sequoia Capital, with participation from existing investors Kleiner Perkins, Index Ventures, and Khosla Ventures. Parallel provides efficient web search and access control infrastructure for 'long-cycle' AI agents. The company has raised a total of $230 million to date, employs approximately 50 people, and serves over 100,000 developers and enterprise clients. At this stage, it is focusing on expanding its sales, marketing, and R&D teams, while continuing to develop enterprise-level 'AI agent internet' scenarios.
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