Want to get featured here? Explore premium visibility opportunities.

Contact us

AI NewsParallel Web Systems hits $2B valuation five months after its last big raise

Parallel Web Systems hits $2B valuation five months after its last big raise

2:19 AM IST · April 30, 2026

Parallel Web Systems hits $2B valuation five months after its last big raise

Parallel Web Systems, the AI agent-tool startup founded by former Twitter CEO Parag Agrawal, has raised a $100 million Series B at a $2 billion valuation led by Sequoia. Existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital also participated,the company said. This raise comes just five months after the startupannounced its $100 millionSeries A at a $740 million valuation led by Kleiner and Index, and brings the total capital it raised to $230 million. Parallel offers a suite of web search and research APIs specifically for AI agents and names customers such as Clay, Harvey, Notion, and Opendoor. It says its customers include banks and hedge funds (though it has not named them). The confidence of investors in Agrawal’s startup has to be particularly gratifying for him after his time at Twitter ended with a subsequent lawsuit. Elon Muskfamously fired himand all the top execs after he bought Twitter. Those execs, including Agrawal, sued, alleging that Musk failed to pay the $128 million in severance pay they believe they were owed. In October,Musk settled the casefor undisclosed terms. In addition to some big-name customers, Parallel tells TechCrunch it has over 100,000 developers using its products.

read more
The founder conference built for growth: TechCrunch Founder Summit pass rates increase June 26

The founder conference built for growth: TechCrunch Founder Summit pass rates increase June 26

Founders don’t grow alone. They learn from peers tackling similar challenges, connect with those who have already navigated the road ahead, and build relationships with investors aligned with their vision. For the next five days, save up to $190 on your pass toTechCrunch Founder Summit 2026. On November 4 in Boston, TechCrunch Founder Summit 2026 brings together 1,000+ founders and investors for a day focused on growth, execution, and building lasting connections. This is TechCrunch’s flagship founder conference, designed for founders first. The experience centers on peer-to-peer learning, candid conversations, and practical, expert-led insights, with opportunities to connect directly with investors aligned with your goals and stage of growth. Early Bird pricing is available through June 26 at 11:59 p.m. PT. Save up to $190 on your pass or save even more with group discounts of up to 30% for teams of four or more.Register here. TechCrunch Founder Summitis built to help founders accelerate growth by learning directly from experienced operators, successful founders, and investors who understand the realities of building a company. At Founder Summit, you’ll connect with: Whether you’re preparing to raise capital, refining your pitch, or working toward your next milestone, Founder Summit creates opportunities for meaningful conversations and high-value connections.Grab your Early Bird ticket savings before June 26. Founder Summitsessions focus on the moments that shape a company’s trajectory. Breakout and roundtable discussions are designed to be actionable, relevant, and immediately useful. Past topics have included: These sessions are designed to give founders the clarity, confidence, and strategies needed to reach the next stage.Register nowto lock in up to $190 in ticket savings. Past speakers have shared candid lessons on building companies, raising capital, and navigating growth, including: Additional speakers have included leaders from Sequoia Capital, NFX, Underscore VC, Glasswing Ventures, Wing Venture Capital, Construct Capital, Greylock, and Precursor Ventures. The 2026 agenda is taking shape, with additional founders, operators, and investors to be announced soon.Visit the event websitefor the latest updates. If you’re interested in leading the conversation in a roundtable or breakout session,submit your speaking topicfor a chance to be voted onto the agenda by the TechCrunch audience. TechCrunch Founder Summit 2026is where founders come to learn faster, connect more intentionally, and gain practical insights for growth. Join founder-focused conversations. Learn proven strategies. Build relationships that support your next stage of growth. Save up to $190 on your pass and up to 30% when registering as a group by June 26 at 11:59 p.m. PT.Register now and secure your spot in Boston. Interested in exhibiting at TechCrunch Founder Summit 2026?Reserve your exhibit tableand connect directly with founders, investors, and startup decision-makers.

3 hours ago

View

How an Indian Pipe Maker is Quietly Building AI-Driven Factory Floor

How an Indian Pipe Maker is Quietly Building AI-Driven Factory Floor

Ashirvad by Aliaxis, the Bengaluru-based pipe manufacturer, is deploying AI across predictive maintenance, demand forecasting, and quality control.

3 hours ago

View

BHASHINI, Assam Innovation & Startup Foundation to Drive Multilingual AI Innovation

BHASHINI, Assam Innovation & Startup Foundation to Drive Multilingual AI Innovation

The two organisations will also work on collecting, curating, and enriching linguistic datasets through the Bhashadaan platform

3 hours ago

View

The Indian Drone Industry’s Shift Away From Manufacturing to Software

The Indian Drone Industry’s Shift Away From Manufacturing to Software

While hardware remains important, industry leaders argue that the real competitive advantage lies in the software that drives these systems.

3 hours ago

View