Parag Agarwal’s AI Startup Parallel raises $100M Series A to build web infrastructure for agents

Parallel Web Systems, founded by Parag Agarwal, raised $100M in Series A funding at a $740M valuation to build AI web infrastructure. Backed by Kleiner Perkins, Index Ventures, and Spark Capital, it powers companies like Clay and Sourcegraph with precise automation tools. Its APIs improve crawling, indexing, and retrieval, advancing an open web for AI.