Parallel Web Systems, an AI infrastructure startup founded by former Twitter CEO Parag Agrawal, announced on April 29 that it raised $100 million in a Series B funding round, boosting its valuation to $2 billion.
The round was led by Sequoia Capital and brought the Palo Alto-based company’s total amount raised to $230 million.
“We founded Parallel on a conviction that agents will use the web a thousand times more than humans ever have, and that most of that work will happen in the background,” said Agrawal, CEO of Parallel.
“It’s playing out faster than we expected. The pioneers are already here, their work spans every industry that matters, and this round accelerates the infrastructure they’re building on.”…