# Parallel Raises at $2 Billion Valuation to Scale Web Infrastructure for Agents

Announcing our $100 million Series B at a $2 billion valuation to scale the web for its second user: AI agents.

Sequoia Capital led the round. Andrew Reed, Partner at Sequoia, joins our board. Existing investors Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital all increased their participation. The round more than doubles our valuation from five months ago and brings total capital raised to $230 million.

Five months ago, we closed our Series A and wrote that the web's primary user would soon be agents. It's playing out faster than expected, with accelerating demand from across the business world in every sector of the economy. Parallel’s suite of web search and agentic research APIs have become critical components for a class of pioneering businesses that are changing the world with AI agents.

### The pioneers are online

Parallel is proud to serve the best businesses at the frontier of AI:

• - Harvey[Harvey](/blog/case-study-harvey) grounds legal reasoning in public documents across 60-plus jurisdictions.
• - Notion's agents help millions of users across every kind of knowledge work.
• - Profound[Profound](/blog/case-study-profound) creates deeply researched content that lifts marketers' search and AI rankings.
• - Opendoor[Opendoor](/blog/case-study-opendoor) automates HOA research on every property they transact on.
• - Two of the largest U.S. P&C insurers have cut customer claims processing times in half.
• - Leading banks and hedge funds gather company intelligence for risk underwriting.
• - Actively's go-to-market agents track every potential lead 24/7.

More than 100,000 developers are building on Parallel today, from AI-native startups to regulated enterprises.

Hear from the pioneers of the parallel web: pioneers.parallel.ai[pioneers.parallel.ai](http://pioneers.parallel.ai)

### Investing in the open web

We'll use the capital to accelerate our index growth, scale enterprise infrastructure, and deepen the layer that connects the open web's content and data owners to AI systems.

As agents become the web's primary users, the people who write, publish, and maintain the content those agents depend on need a direct stake in how it gets used. We have more to share on that soon.

To everyone building on Parallel: thank you. We're going to keep earning it.