Overview
- The Series A values Parallel Web Systems at $740 million and is co-led by Kleiner Perkins and Index Ventures.
- Parallel provides APIs that let AI agents pull up-to-date web information and return optimized tokens directly into model context windows to improve accuracy and lower costs.
- Enterprise customers use the system for software code generation, sales-data analysis, and insurance risk assessment.
- The company will use the new capital for product development and customer acquisition, and it plans an open market mechanism to compensate publishers for AI access to content, with details not yet disclosed.
- Founded in 2023, Parallel launched products in August 2025 after a $30 million raise in January 2024, with backers including Khosla Ventures as well as Spark Capital, First Round Capital, and Terrain.