Parallel Web Systems Raises $100M Series A to Build Web Infrastructure for Agents

Parallel Web Systems, building the web infrastructure for AI, led by Parag Agrawal and Travers Nisbet, has secured $100 million Series A at a $740 million valuation co-led by Kleiner Perkins and Index Ventures, with participation from Spark Capital and support from existing investors Khosla Ventures, First Round Capital, and Terrain. Mamoon Hamid of Kleiner Perkins joins Vinod Khosla, Shardul Shah, and Josh Kopelman on the board.

Two years ago, when the company was founded, web-based agents didn’t exist, and many assumed large language models would make the web obsolete. Instead, AIs are now poised to use the web far more extensively than humans ever have.

Quality is the foundation. The product lineup includes Web Tools for search, extraction, and retrieval, and Web Agents for structured enrichment, deep research, and workflow automation. Agents serve as the users, while AI-native builders are the customers.

Leading teams, from Clay and Sourcegraph to Fortune 100 companies, rely on this infrastructure because accurate, fresh web data is essential to every workflow, whether powering GTM systems, resolving code issues, finding legal precedent, or underwriting claims.

Parallel reduces hallucinations by delivering the right context from the web, making data quality the key determinant of competitive advantage as AI adoption accelerates.

Search for AIs operates fundamentally differently from search for humans. Agents issue declarative queries, rely on optimal tokens rather than ranked URLs, and benefit from flexible compute and time allocation to improve outputs.

Parallel provides the only web APIs designed specifically as tools for AI agents, used at scale, including by its own search agents. The system is enabled by purpose-built advances in crawling, indexing, retrieval, and ranking, all engineered for AIs as the primary users.

As the web’s primary user shifts from humans to AIs, business models built on human attention face pressure. The ecosystem increasingly trends toward paywalls, data silos, and restricted access. Parallel’s APIs and systems are engineered to serve AIs while also giving content and data owners incentives to keep publishing openly and enabling broad access for AI agents. The mission is to support an open, transparent, and competitive web accessible to all AIs.