TechFlow News, April 29: According to The Wall Street Journal, Parallel Web Systems—an AI startup founded by former Twitter CEO Parag Agrawal—has secured $100 million in Series B funding, led by Sequoia Capital, with participation from Kleiner Perkins, Index Ventures, and Khosla Ventures. The company’s valuation has risen to $2 billion, bringing its total funding to $230 million. Parallel focuses on building web search infrastructure for AI agents, supporting in-depth research use cases such as investment research, insurance claims processing, and government contract analysis. Over 100,000 developers are already using its platform, including clients like Harvey, a legal AI company. Proceeds from this round will be used to expand the sales team and bolster R&D efforts.
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