AI Startup Parallel Web Systems Raises $100 Million Series A for Agentic AI

Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, is building web infrastructure for agentic AI. Its tools help AI agents search for real-time information, extract and retrieve data, conduct deep research, and automate workflows. As agents increasingly become web users, reliable access to website data is becoming more important.

Parallel Web Systems announced a $100 million Series A funding round on April 29, 2026, valuing the company at $740 million post-money. It will use the new capital to expand its products and customer base, while continuing to develop search, data-extraction, and retrieval components for AI agents. It will also develop web agents that support structured-data enrichment, deep research, and workflow automation.