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Announcing our $100 million Series A at a $740 million valuation to build the web for its second user: AIs. The round was co-led by Kleiner Perkins and Index Ventures, with participation from Spark Capital and support from existing investors Khosla Ventures, First Round Capital, and Terrain. Mamoon Hamid of Kleiner Perkins joins Vinod Khosla, Shardul Shah and Josh Kopelman on the board.
## **Quality is everything**
Today, we offer two types of products, all of which are best-in-class for quality and accuracy of outputs:
- - **Web Tools** built as primitives for search[search]($https://parallel.ai/blog/introducing-parallel-search), extraction[extraction]($https://docs.parallel.ai/extract/extract-quickstart), and retrieval for agents to use.
- - **Web Agents **built for structured enrichment[structured enrichment]($https://parallel.ai/blog/parallel-task-api), deep research[deep research]($https://parallel.ai/blog/deep-research-benchmarks), and workflow automation[workflow automation]($https://parallel.ai/blog/case-study-gumloop).
Agents are our users. AI-native builders are our customers.
The most sophisticated builders choose us: Clay, Sourcegraph, Owner, Starbridge, Actively, Genpact, and leading Fortune 100 companies. They've tested alternatives and understand their agents' needs. Whether it's Claygent[Claygent]($https://www.clay.com/claygent) powering GTM workflows, Amp[Amp]($https://ampcode.com/)'s coding agent solving bugs, helping lawyers find precedent, Starbridge[Starbridge]($https://parallel.ai/blog/case-study-starbridge) discovering government RFPs, or a Fortune 100 insurer underwriting claims. Our customers understand something fundamental: if your agent doesn't have good, fresh, accurate data from the web, all else downstream doesn’t matter.
Parallel drops hallucination rates[drops hallucination rates]($https://parallel.ai/blog/benchmarks-task-api-sealqa) across workflows by organizing and bringing forth the right context from the web. Every decision, by an agent or the human, is downstream of the quality of the data it uses. When every company is racing to deploy AI, competitive advantage comes down to who has better access to accurate information.
