Parag Agrawal’s Parallel Web Systems raises $100 Mn in Series A round

Parallel Web Systems, launched by former Twitter CEO Parag Agrawal, has raised $100 million in a Series A round co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing backers.

According to an ET report,  the company raised the current round at a valuation of $740 million post money. 

The proceeds will be used to accelerate product development, acquire customers, and address web access challenges such as paywalls and login barriers. 

Prior to this round, the company had raised about $30 million in…