AI assistant startup Town nabs unicorn valuation four months after launch
AI assistant startup Town nabbed a unicorn valuation on Monday, announcing a $108 million Series B round co-led by Forerunner Ventures and Menlo Ventures.
Two years after its inception, San Francisco-based AI assistant startup Town has achieved a unicorn valuation. The company announced a $108 million Series B funding round led by Forerunner Ventures and Menlo Ventures. Town launched publicly just four months ago and has already achieved millions in annual recurring revenue. The company has raised a total of at least $160 million to date, including a prior $55 million Series A round in June.
Founded by former Plaid CTO Jean-Denis Greze, Town aims to serve businesses by providing each employee with an AI assistant called a Townie. This AI assistant assists with tasks by connecting to various tools such as emails, calendars, and other core work systems. Townies can also communicate with each other and share approved information, and they can now interact with customers and external parties.
The latest funding round, which included participation from Andreessen Horowitz, Serena Ventures, and First Round Capital, is accompanied by a new shared workflow. This feature automatically updates employees' Townies with new business information, eliminating the need for individual updates.
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