6 months ago
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AI startup Parallel Web Systems, founded by erstwhile Twitter CEO Parag Agrawal, has raised $100 cardinal to physique web hunt infrastructure for artificial quality agents and money deals with online contented owners, Agrawal said successful an interview.
The Series A round, which values the institution astatine $740 million, was co-led by task firms Kleiner Perkins and Index Ventures, with information from different existing backers including Khosla Ventures.
Parallel aims to code what it sees arsenic a cardinal displacement successful net use, arsenic AI agents progressively go the web’s superior users. The institution builds exertion programming interfaces (APIs) that fto AI systems hunt the unrecorded web for up-to-date accusation to implicit tasks.
Agrawal said its endeavor customers usage Parallel to powerfulness AI agents that constitute bundle code, analyse lawsuit information for income teams and measure hazard for security underwriting, areas wherever high-quality web data, alongside interior systems, is critical.
“How galore jobs are determination wherever we could crook disconnected web entree and inquire you to bash the aforesaid occupation fully?” Agrawal told Reuters. “You can’t deprive an M&A lawyer from not being capable to usage the web, truthful wherefore would you deprive their agents?” He said helium believed the startup’s exertion was superior to built-in web hunt functions offered by AI-model providers.
Unlike accepted hunt engines that fertile links for humans to click, Parallel’s strategy returns optimised content, oregon “tokens,” designed to provender straight into an AI model’s discourse window. The institution says this attack improves accuracy, reduces “hallucinations”, oregon mendacious information, and cuts operational costs for customers.
Agrawal said the caller superior volition let Parallel to “go each in” connected merchandise improvement and lawsuit acquisition. Some of the funds volition besides spell toward tackling the situation of web contented progressively being locked down paywalls and login barriers to forestall AI web scraping, arsenic web owners from publishers to societal media platforms spot postulation diminution arsenic the emergence of AI chatbots changes however radical entree information.
Agrawal said Parallel plans to make an “open marketplace mechanism,” a caller economical exemplary to incentivise publishers to support contented accessible to AI systems, though helium did not supply details. Founded 2 years ago, Parallel archetypal launched its products successful August 2025. The institution antecedently raised $30 cardinal successful January 2024.
