Parag Agrawal, who was ousted as CEO of Twitter by Elon Musk in 2022, has made a significant comeback with his new venture, Parallel Web Systems. Founded in early 2024, the startup has quickly garnered attention in the artificial intelligence sector, achieving a valuation of $2 billion after raising $230 million in funding. The latest $100 million funding round was led by Sequoia Capital, with participation from other notable investors. Parallel Web Systems focuses on enhancing AI agents' ability to interact with the web through specialized APIs designed for effective data retrieval and task completion. This approach addresses a critical need for AI models to access real-time information. The company has attracted over 100,000 developers and counts clients such as Clay, Notion, and Opendoor among its early adopters. As the AI infrastructure market grows increasingly competitive, Parallel aims to differentiate itself by developing long-running AI agents capable of maintaining context over time. Agrawal's experience in machine learning and infrastructure from his time at Twitter is expected to play a crucial role in the startup's success as it navigates this dynamic landscape.