Parallel Web Systems Raises $100 Million to Power AI-Driven Web Research
- Parallel Web Systems secures $100 million Series A funding at $740 million valuation
- Funding led by Kleiner Perkins and Index Ventures with participation from Khosla Ventures
- Capital to boost product innovation and expand AI-based web access tools
Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, has raised $100 million in a Series A round Co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing investors. The new round values the company at $740 million post-money, according to a report.
The funding will be used to accelerate product development, expand its customer base, and tackle major web access challenges such as paywalls, restricted content, and login barriers. Before this, Parallel had raised $30 million in January 2024 and officially launched its product in August 2025.
Founded in 2023, Parallel builds AI infrastructure that allows intelligent agents to interact with the web in real time. Its cloud-based deep research API enables AI models and applications to browse, analyze, and synthesize public web data with detailed citations, making online research more accurate and dynamic.
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Parallel’s flagship suite includes eight specialized AI research engines, each optimized for different computational needs. These engines allow AI systems to perform complex, multi-domain research and long-form synthesis, reportedly outperforming OpenAI’s GPT-5 in web research benchmarks.
The company’s technology powers coding assistants, enterprise knowledge tools, and automated research workflows, positioning it as a strong contender against browser-based infrastructure providers and AI-powered search systems from OpenAI and Google.
