Parallel Web Systems, co-founded by former Twitter CEO Parag Agrawal, has reportedly raised $100 million in a Series B round led by Sequoia Capital. The funding lifts the company’s valuation to about $2 billion, marking a major milestone as the startup expands its push on next-generation web infrastructure.
Sequoia Capital has secured about $7 billion for a new fund, reported by Bloomberg. The pool is set to expand its push into artificial intelligence startups, including major names such as OpenAI and Anthropic, while also focusing on late-stage deals across the US and Europe. The move signals how Sequoia’s incoming leadership plans to concentrate capital in high-growth AI.
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