When was Parallel Web Systems founded?

Parallel Web Systems was founded in 2023 and became a unicorn in 2026, reaching the milestone in 3 years. It raised its 1st funding round 1 year after its incorporation.

Where is Parallel Web Systems located?

Parallel Web Systems is headquartered in Palo Alto, United States.

How many employees does Parallel Web Systems have?

As of May 31, 2026, the latest employee count at Parallel Web Systems is 81.

Is Parallel Web Systems a funded company?

Parallel Web Systems is a funded company, having raised a total of $230M across 3 funding rounds to date. The company's 1st funding round was a $30M Seed round, raised on Jan 01, 2024.

How much is Parallel Web Systems worth?

The latest valuation of Parallel Web Systems is $2B as of May 04, 2026.

When was the latest funding round of Parallel Web Systems?

Parallel Web Systems' latest funding was a $100M Series B round on Apr 28, 2026, with participation from 7 investors.

Is Parallel Web Systems a AI Infrastructure company?

The primary sectors of Parallel Web Systems are AI Infrastructure and Artificial Intelligence.

Where does Parallel Web Systems rank among its competitors?

Parallel Web Systems ranks 1st amongst 91 active competitors, of which 15 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Parallel Web Systems, which secured $100M in Apr, 2026.

Who are the top competitors of Parallel Web Systems?

Parallel Web Systems' top competitors include true, Diffbot and Connotate. Among them, Parallel Web Systems secured the most recent funding round in April, 2026.

Parallel Web Systems - 2026 Company Profile, Team, Funding & Competitors

Parallel Web Systems is a series B company based in Palo Alto (United States), founded in 2023 by Parag Agrawal. It operates as a Developer of an API providing web search for AI applications. Parallel Web Systems has raised $230M in funding from investors like Sequoia Capital, Index Ventures and Kleiner Perkins, with a current valuation of $2B. The company has 91 active competitors, including 15 funded and 3 that have exited. Its top competitors include companies like true, Diffbot and Connotate.

Sectors and market segments that Parallel Web Systems operate in

Parallel Web Systems serves in the High Tech, Native AI market segments.The primary business model of Parallel Web Systems are:

Company Details

Developer of an API providing web search for AI applications. The API delivers outputs built on cross-referenced facts, designed to minimize hallucination. It offers predictable costs based on task complexity, charging per query. The API provides verifiability and provenance.

Website: parallel.ai
Email ID: *****@parallel.ai

Key Metrics

Founded Year

2023

Location

Palo Alto, United States

Stage

Series B

Total Funding

$230M in 3 rounds

Latest Funding Round

Series B, Apr 28, 2026, $100M

Post Money Valuation

$2B as on May 04, 2026

Investors

Sequoia Capital & 6 more

Ranked

1^st among 91 active competitors

Employee Count

81 as on May 31, 2026

Similar Companies

ElevenLabs & 3923 more

View Parallel Web Systems' full profile

Parallel Web Systems is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Parallel Web Systems Inc CIN: 7587304 , United States, Active	Aug 22, 2022	-	-	-

Parallel Web Systems has raised a total funding of $230M over 3 rounds. Its first funding round was on Jan 01, 2024. Its latest funding round was a Series B round on Apr 28, 2026 for $100M. 7 investors participated in its latest round. Parallel Web Systems has 7 institutional investors.

Here is the list of recent funding rounds of Parallel Web Systems:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Apr 28, 2026	$100M	Series B	$2B	-	Sequoia Capital	Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, Terrain
Nov 12, 2025	$100M	Series A	$740M	-	Kleiner Perkins, Index Ventures	Khosla Ventures, First Round Capital, Terrain, Spark Capital
Jan 01, 2024	$30M	Seed	-	-	-	Khosla Ventures, Index Ventures, First Round Capital

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The founders of Parallel Web Systems is Parag Agrawal.

Here are the details of Parallel Web Systems' key team members:

Parag Agrawal: Founder of Parallel Web Systems.
Contact Info: 1 email address

View details of Parallel Web Systems's Founder profiles and Board Members

Parallel Web Systems' employee count trend

Parallel Web Systems has 81 employees as of May 26. Here is Parallel Web Systems's employee count trend over the years:

Employee count trend for Parallel Web Systems

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Top competitors of Parallel Web Systems include true, Diffbot and Connotate. Here is the list of Top 10 competitors of Parallel Web Systems, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Parallel Web Systems 2023, Palo Alto (United States), Series B	Developer of an API providing web search for AI applications	$230M	Kleiner Perkins, Sequoia Capital & 5 others	64/100
2nd	true 2017, Forest Hills (United States), Series A	AI-powered lending intelligence software	$6M	Long Ridge, Europa	50/100
3rd	Diffbot Palo Alto (United States), Series A	AI-powered web data extraction and knowledge graph solutions	$12.5M	Tencent, Bloomberg Beta & 20 others	49/100
4th	Connotate 2000, New Brunswick (United States), Acquired	Web data solutions for the enterprise	$34.3M	.406 Ventures, Prism Venture Partners & 4 others	45/100
5th	Channel3 2025, New York City (United States), Seed	Developer of an API providing product data and monetization tools	$6M	Matrix, Ludlow Ventures & 2 others	44/100
6th	Airship Redmond (United States), Public	Provider of an AI-driven platform for video and data transformation	-	-	42/100
7th	AIQoD 2015, Pune (India), Seed	Provider of cognitive data extraction and digital transformation solution	$852K	Lemon Innovision Ventures, Faad Capital & 7 others	41/100
8th	Block Brain 2022, Stuttgart (Germany), Series A	Developer of an AI transformation platform for enterprise-level automation solutions	$25.4M	13books Capital, Alstin Capital & 9 others	38/100
9th	Sensible 2020, San Francisco (United States), Seed	Platform leveraging natural language processing to extract data from multiple documents	$8M	Craft Ventures, Engineering Capital & 7 others	38/100
10th	AgentQL 2023, Palo Alto (United States), Unfunded	Provider of an AI agents to interact with web pages using natural language descriptions	-	-	35/100

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Parallel Web Systems has made no investments or acquisitions yet.

Media has covered Parallel Web Systems for a total of 17 events in the last 1 year, 7 of them have been about company updates and 2 about partnerships.