Overview
- Parallel Web Systems, which announced the Series B on Wednesday, raised $100 million led by Sequoia at a $2 billion valuation, and Sequoia partner Andrew Reed will join the board.
- The new round brings total funding to about $230 million and follows a $100 million Series A in November that valued the company at $740 million.
- Parallel builds a fresh web index and machine-focused APIs so autonomous AI agents can look up facts, keep context, and cite sources for complex tasks.
- Customers named include Harvey, Notion, Clay, and Opendoor, and the company says more than 100,000 developers at startups and large firms use its tools.
- The company plans to expand sales and marketing, speed R&D, and deepen enterprise adoption while competing with Tavily, Exa, and Diffbot and exploring publisher revenue-sharing tied to provenance.