Former Twitter CEO Parag Agrawal’s new venture, Parallel Web Systems, has raised $100 million in Series A funding to revolutionize how AI agents access and utilize the web. The round, which values the company at $740 million, was co-led by Kleiner Perkins and Index Ventures, with additional participation from Khosla Ventures and several other prominent investors.
Parallel Web Systems is developing an advanced infrastructure platform that allows AI systems to browse and extract real-time information from the live web, supporting intelligent agents capable of writing code, analysing data, and evaluating business risks. Explaining the company’s vision, Agrawal told Reuters, “You can’t deprive an M&A lawyer from not being able to use the web, so why would you deprive their agents?” His statement underscores Parallel’s mission to make web data more seamlessly accessible to intelligent systems.
Unlike conventional search engines that simply list web pages, Parallel delivers structured and optimized web content directly into an AI model’s context window, improving accuracy and reducing instances of hallucination in responses. This unique approach enhances how AI models process and interpret real-time data, paving the way for more reliable and context-aware AI applications across industries.
Agrawal noted that the newly raised funds will be used to accelerate product development and deepen collaborations with online content owners. A key focus area will be the creation of an “open market mechanism” that encourages publishers to keep their content accessible to AI systems, ensuring a balanced ecosystem between information creators and intelligent platforms.
Founded in 2023, Parallel Web Systems represents Agrawal’s bold vision of a future where machines become the primary navigators of the web, transforming how information flows between humans, AI systems, and the digital environment. By focusing on building transparent, scalable, and intelligent web infrastructure, the startup aims to redefine how the next generation of AI technologies interacts with live, dynamic content.
With a strong leadership foundation, top-tier investor backing, and a mission to make the web truly machine-readable, Parallel Web Systems is positioning itself at the forefront of the internet’s next evolution — one driven not by human clicks, but by intelligent agents powered by real-time data access.
