Town, a San Francisco-based AI assistant startup founded by former Plaid CTO Jean-Denis Greze, announced a $108 million Series B round co-led by Forerunner Ventures and Menlo Ventures. The company says the round gives it a unicorn valuation. It launched publicly four months ago and reports reaching millions of dollars in annual recurring revenue within weeks.
Town sells AI assistants to businesses, assigning each employee a 'Townie' that connects to tools like email and calendars as well as core work systems. The assistants can talk to one another and share approved information, and they can now also work with customers and others outside the company. Alongside the funding, Town introduced a shared workflow that automatically updates employees' Townies with new business information, rather than requiring manual updates.
With the round, Town has raised at least $160 million to date, including a $55 million Series A announced in June. Andreessen Horowitz, Serena Ventures, and First Round Capital also participated. This article is based on a single source, so there are no differing perspectives to reconcile; the figures reflect Town's own disclosures as reported by TechCrunch.