Ex-Twitter CEO’s AI Startup Valued at $2 Billion After Funding Round

Agrawal was Twitter’s chief technology officer from 2017 to 2021, then its CEO until he was fired in 2022.

Parag Agrawal, then-CEO of Twitter, walks to a morning session during the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 7, 2022. Kevin Dietsch/Getty Images

Parallel Web Systems, an AI infrastructure startup founded by former Twitter CEO Parag Agrawal, announced on April 29 that it raised $100 million in a Series B funding round, boosting its valuation to $2 billion.

The round was led by Sequoia Capital and brought the Palo Alto-based company’s total amount raised to $230 million.