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Recently, interesting investment news has emerged. An AI infrastructure company founded by former Twitter CEO Parag Agrawal has raised a significant amount of funding.
Parallel Web Systems raised $100 million in a Series B round. This has increased the company's valuation to $2 billion. Sequoia Capital led the round, with existing investors such as Kleiner Perkins, Index Ventures, and CoVenture also participating.
Given that it was founded by a CEO from Twitter, it’s worth paying attention. The company's core business is providing web search and access control infrastructure for long-term AI agent development. So far, it has raised a total of $230 million and has a team of about 50 members, serving over 100k developers and corporate clients.
The experience from the Twitter era seems to be a strength for this company. Currently, they are focusing on expanding sales, marketing, and R&D teams, and continuing to develop enterprise-grade AI agent web applications. These movements are increasingly common in the AI infrastructure market, and it’s especially notable that this project is led by a former Twitter executive.