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Parag Agrawal's AI startup raised $100 million to develop tools that help AI agents search the live web and reduce errors.
Former Twitter CEO Parag Agrawal's AI startup Parallel Web Systems has raised $100 million in a Series A round, valuing it at $740 million.
The funding, led by Kleiner Perkins and Index Ventures, will support product development and expansion.
Parallel provides APIs that let AI agents search the live web for real-time data, delivering optimized "tokens" instead of links to improve accuracy and reduce AI hallucinations.
The company, launched in August 2025, is tackling paywalled content by building an open market mechanism to incentivize publishers to keep content accessible to AI systems.
It previously raised $30 million in January 2024.
La startup de IA de Parag Agrawal recaudó $ 100 millones para desarrollar herramientas que ayuden a los agentes de IA a buscar en la web en vivo y reducir los errores.