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AI Assistant Startup Town Raises $108M Series B at $1B Valuation
San Francisco AI startup Town announced a $108 million Series B round valuing it at $1 billion, four months after its public launch. Its Townie AI assistants are built for teamwork.
Why it matters
Town is a two-year-old San Francisco startup building team-oriented AI assistants: each employee gets a "Townie" that connects to email, calendars, documents and core work systems. Townies belonging to different employees can talk to each other, share approved information, and even work directly with customers outside the company. Alongside the funding, Town launched a shared workflow feature: the team updates information once, and every employee's Townie syncs automatically.
Full report
The $108 million Series B was co-led by Forerunner Ventures and Menlo Ventures, with Andreessen Horowitz (a16z), Serena Ventures and First Round Capital participating, at a $1 billion valuation. Town launched publicly only in June and has raised about $160 million to date, including a $55 million Series A.
The company was co-founded by Jean-Denis Greze, former CTO of Plaid, and serial entrepreneur Tony Vincent. Town says it reached millions of dollars in annual recurring revenue within weeks of launching, a growth rate that helped justify the unicorn valuation.
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