Former Twitter CEO Parag Agrawal’s AI startup, Parallel Web Systems, has raised $100 million in Series A funding, valuing the company at around $740 million. The round saw participation from leading venture capital firms and angel investors focused on AI infrastructure and data accessibility.

Parallel aims to revolutionize how artificial intelligence systems interact with live web data. Unlike traditional search engines that rely on indexed pages, the startup is developing application programming interfaces (APIs) that allow AI agents to directly access and process real-time online information. This innovation seeks to minimize inaccuracies, enhance contextual understanding, and reduce the dependency of AI tools on outdated or incomplete datasets.

Agrawal, who previously led Twitter through one of its most transformative phases before its acquisition by Elon Musk, brings deep experience in scalable systems and machine learning. His new venture reflects a growing wave of AI-native startups aiming to fix long-standing challenges in how AI models retrieve, interpret, and verify data.

Industry experts view Parallel’s approach as a significant step toward creating a more intelligent and adaptive internet infrastructure—one where AI models can evolve with the same dynamism as the web itself. The company plans to use the new funding to expand its engineering team, strengthen data partnerships, and build enterprise-grade products for AI-driven applications across sectors like research, e-commerce, and automation.

The investment also underscores the investor community’s confidence in Agrawal’s technical vision and the market potential for next-generation AI data pipelines. With Parallel entering this fast-growing space, it could soon become a key player redefining how AI systems “see” and “understand” the web in real time.