Parallel Web Systems, the AI agent-tool startup co-founded by former Twitter CEO Parag Agrawal, has secured $100 million in Series B funding at a $2 billion valuation, with Sequoia leading the round. Existing backers Kleiner Perkins, Index Ventures, Khosla Ventures, First Round Capital, Spark Capital, and Terrain Capital also participated, according to the company. This funding arrives just five months after the startup announced its $100 million Series A at a $740 million valuation, led by Kleiner and Index. The latest raise brings the total capital raised to $230 million.

Parallel provides a suite of web search and research APIs tailored specifically for AI agents. Its client list includes notable names like Clay, Harvey, Notion, and OpenDoor. The company also reports that its customers include banks and hedge funds, though it has not disclosed their identities.

The strong investor confidence in Agrawal’s venture must be particularly rewarding for him, especially given how his tenure at Twitter ended with a subsequent legal battle. Elon Musk famously dismissed Agrawal and all other top executives after acquiring Twitter. Those executives, including Agrawal, filed a lawsuit claiming Musk had failed to pay the $128 million in severance they believed they were owed. In October, Musk settled the case under undisclosed terms.