qwant news | Parag Agrawal's startup raises $100M to build a parallel web for AI agents - SiliconANGLE

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Parag Agrawal, former Twitter CEO, has secured $100 million in a Series B round led by Sequoia Capital, with participation from Kleiner Perkins, Index Ventures and Khosla Ventures, valuing his new venture Parallel Web Systems Inc. at $2 billion. The startup is building a programmatic web infrastructure—specialized APIs and a proprietary machine‑optimized index—that enables autonomous AI agents to conduct deep, accurate web research and perform tasks such as insurance claim processing or legal document analysis far more efficiently than current tools. Parallel’s platform, already used by the legal‑AI firm Harvey AI, aims to give agents granular control over site access and continuous context, positioning it as core infrastructure for “long‑running” AI agents, while competing with rivals like Tavily Inc. and Exa Labs. The funding will expand the sales, marketing, and R&D teams to accelerate development and broaden adoption among over 100,000 developers worldwide.

Read more: https://siliconangle.com/2026/04/28/parag-agrawals-startup-raises-100m-build-parallel-web-ai-agents/

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