Former Twitter CEO Parag Agrawal's Parallel Web Systems, which is building tools for AI agents to search the web, raised a $100M Series A at a $740M valuation (Tom Dotan/Newcomer)
PositiveArtificial Intelligence

Parag Agrawal, the former CEO of Twitter, has launched Parallel Web Systems, which aims to create tools for AI agents to enhance their web search capabilities. Recently, the company secured $100 million in Series A funding, bringing its valuation to $740 million. This funding underscores the growing recognition of the unique requirements of AI agents, as Agrawal emphasizes that these agents utilize the web differently and necessitate their own APIs. This development is significant as it reflects the evolving landscape of AI technology and the increasing investment in solutions that cater specifically to AI functionalities.
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