Overview
- Parallel Web Systems, which raised $100 million on Wednesday in a Sequoia-led round, is now valued at $2 billion.
- The company said it will use the money to grow sales and marketing teams, keep investing in research, and pursue enterprise contracts.
- Parallel builds a machine-ready web index and APIs so AI agents can pull current data and cite verifiable sources, and products like Harvey and Notion already use it.
- Sequoia partner Andrew Reed will join the board and said demand tracks the rise of long-running AI systems inside large companies.
- Kleiner Perkins, Index Ventures, and Khosla Ventures also joined the round, lifting total funding to about $230 million after a $100 million Series A in November at a $740 million valuation.