Parallel Web Systems, an AI search startup founded by former Twitter CEO Parag Agrawal, has raised US$100 million in a series A round.

The funding values the company at US$740 million.

Kleiner Perkins and Index Ventures co-led the round, with participation from Khosla Ventures and other existing investors.

Parallel develops APIs that allow AI systems to search the live web for up-to-date information.

Parallel launched its products in August 2025 and previously raised US$30 million in January 2024.

Agrawal said some of the new funding will be used to address challenges around accessing web content behind paywalls and login barriers.

He also mentioned plans for an open market model to encourage publishers to allow AI access, but did not share further details.

🔗 Source: Reuters