Parallel Web Systems hits $2B valuation five months after its last big raise

In Brief

Parallel Web Systems, the AI agent-tool startup founded by erstwhile Twitter CEO Parag Agrawal, has raised a $100 cardinal Series B astatine a $2 cardinal valuation led by Sequoia. Existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital besides participated, the institution said.

This rise comes conscionable 5 months aft the startup announced its $100 million Series A astatine a $740 cardinal valuation led by Kleiner and Index, and brings the full superior it raised to $230 million.

Parallel offers a suite of web hunt and probe APIs specifically for AI agents and names customers specified arsenic Clay, Harvey, Notion, and OpenDoor. It says its customers see banks and hedge funds (though it has not named them).

The assurance of investors successful Agrawal’s startup has to beryllium peculiarly gratifying for him aft his clip astatine Twitter ended with a consequent lawsuit. Elon Musk famously fired him and each the apical execs aft helium bought Twitter. Those execs, including Agrawal, sued, alleging that Musk failed to wage the $128 cardinal successful severance wage they judge they were owed. In October, Musk settled the case for undisclosed terms.

In summation to immoderate big-name customers, Parallel tells TechCrunch it has implicit 100,000 developers utilizing its products.

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