By Krystal Hu

(Reuters) -AI startup Parallel Web Systems, founded by former Twitter CEO Parag Agrawal, has raised $100 million to build web search infrastructure for artificial intelligence agents and fund deals with online content owners, Agrawal said in an interview.

The Series A round, which values the company at $740 million, was co-led by venture firms Kleiner Perkins and Index Ventures, with participation from other existing backers including Khosla Ventures.

Parallel aims to address what it sees as a fundamental shift in internet use, as AI agents increasingly become the web’s primary users. The company builds application programming interfaces (APIs) that let AI systems search the live web for up-to-date information to complete tasks.

Agrawal said its enterprise customers use P

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