Former Twitter CEO Parag Agrawal has announced the raising of $30 million in investments for his new company, Parallel Web Systems Inc. The new startup specializes in developing infrastructure to enhance the efficiency of AI agents in searching for information online.
This is reported by Finway
New Product and Team at Parallel Web Systems Inc
On August 14, the company unveiled its flagship product — the Deep Research API. This application programming interface is aimed at software developers. Its main function is to utilize data from various open sources to create structured analysis with citation and verification of authenticity. Thus, the Deep Research API enables AI agents to provide higher quality and verified search results.
The startup’s team currently consists of 25 specialists. Among the company’s key investors are Khosla Ventures, First Round Capital, and Index Ventures. Notably, one of the first to support Agrawal after his departure from Twitter was billionaire Vinod Khosla.
Agrawal’s Career and AI Development Prospects
Parag Agrawal took over as CEO of Twitter in November 2021, succeeding the company’s founder, Jack Dorsey. Prior to this, he served as the Chief Technology Officer and was involved in implementing AI solutions on the platform. In 2020, at his initiative, Twitter negotiated to acquire the startup Cohere, which is valued at $6.8 billion as of August 2025.
After Elon Musk purchased Twitter in October 2022 and dismissed most executives, including Agrawal, he decided not to take a break. Following his resignation, he actively met with potential partners and investors, choosing to further his development in the field of artificial intelligence.
“There will be more agents on the internet than people. You will probably need to deploy something like 50 agents to operate online. And I think this will happen soon, like next year.”
In August 2025, Parag Agrawal stated that the Deep Research API surpasses leading AI solutions, including ChatGPT-5, across several benchmarks. However, details regarding the structure of the investment round and the company’s valuation remain undisclosed.