AI assistant startup Town raises $108M, reaches unicorn valuation

On October 19, Town, a San Francisco-based AI assistant startup, announced a $108 million Series B funding round co-led by Forerunner Ventures and Menlo Ventures, giving the company a $1 billion valuation. The two-year-old company launched publicly just four months ago and said it reached millions of dollars in annual recurring revenue within weeks. Town has now raised at least $160 million to date, following a $55 million Series A in June 2026.

Founded by former Plaid CTO Jean-Denis Greze, Town focuses on the enterprise market, providing each employee with an AI assistant called a Townie. Townie connects to tools such as email, calendars, and other core work systems to help staff complete tasks. Townies can also communicate with each other, share approved information, and collaborate with customers and partners outside the company.

Alongside the funding, Town announced a shared workflow that automatically updates employees' Townies with new business information, eliminating the need for manual updates. Andreessen Horowitz, Serena Ventures, and First Round Capital also participated in the round.