Parallel Net Techniques, the AI agent-tool startup based by former Twitter CEO Parag Agrawal, has raised a $100 million Collection B at a $2 billion valuation led by Sequoia. Present traders Kleiner Perkins, Index Ventures, Khosla Ventures, First Spherical Capital, Spark Capital, and Terrain Capital additionally participated, the corporate mentioned.
This increase comes simply 5 months after the startup introduced its $100 million Collection A at a $740 million valuation led by Kleiner and Index, and brings the entire capital it raised to $230 million.
Parallel provides a collection of internet search and analysis APIs particularly for AI brokers and names clients reminiscent of Clay, Harvey, Notion, and Opendoor. It says its clients embrace banks and hedge funds (although it has not named them).
The arrogance of traders in Agrawal’s startup needs to be notably gratifying for him after his time at Twitter ended with a subsequent lawsuit. Elon Musk famously fired him and all the highest execs after he purchased Twitter. These execs, together with Agrawal, sued, alleging that Musk didn’t pay the $128 million in severance pay they imagine they had been owed. In October, Musk settled the case for undisclosed phrases.
Along with some big-name clients, Parallel tells TechCrunch it has over 100,000 builders utilizing its merchandise.
