Former Twitter CEO Parag Agrawal Raises $100 Million for AI Startup Parallel

Former Twitter CEO Parag Agrawal was dismissed by Elon Musk in October 2022 following Musk’s $44 billion acquisition of the social media platform. After leaving Twitter, Agrawal returned to his engineering roots, focusing on research, developing new ideas and writing code. In 2023, he founded Parallel Web Systems, an artificial intelligence startup designed to build search and research infrastructure that enables AI agents to access and retrieve information from the internet.

In a recent podcast interview, Agrawal revealed that he managed to sleep well even during Twitter’s turbulent takeover, explaining that he remained focused on the tasks that needed to be completed next. His entrepreneurial journey has since gained momentum. In October 2026, Parallel reportedly raised $100 million in Series B funding at a valuation of $2 billion, marking a significant milestone for the AI startup.