Parallel Web Systems Raises $100 Million Series B at $2 Billion Valuation

Parallel Web Systems has raised $100 million in a Series B funding round at a $2 billion valuation, announced in a press release. The round was led by Sequoia Capital, with participation from existing investors including Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, Terrain Capital, and Abstract Ventures. Andrew Reed, Partner at Sequoia Capital, will join the company’s board of directors.

The company said the new funding brings its total capital raised to $230 million. Parallel provides web infrastructure that connects AI agents to the open web, enabling them to perform background tasks that rely on live data access. Its technology is used by companies such as Harvey, Notion, Profound, Actively, and Opendoor.

Parallel plans to use the funds to expand its index, grow its enterprise customer base, and strengthen its infrastructure layer linking content and data owners with AI systems. The company also aims to develop market mechanisms that allow publishers and data providers to benefit directly from AI use of their content.

Headquartered in Palo Alto, California, Parallel supports more than 100,000 developers and is used by both startups and large enterprises building AI agents that operate across the open web.