AI search startup Parallel raises $100 million to build live-web search for agents

Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, has secured $100 million in Series A funding at a $740 million valuation. The company develops APIs that allow AI agents to query the live web and access curated content for real-time tasks. The round was co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures. Funds will be used to scale infrastructure, expand partnerships and drive commercial deployments. The move underscores growing investor interest in AI infrastructure and agent-centric search platforms.

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