Town hits unicorn status 4 months after launch
Original: AI assistant startup Town nabs unicorn valuation four months after launch
Why This Matters
Speed from launch to unicorn signals intense investor appetite for enterprise AI assistants.
Town, an SF-based AI assistant startup founded by ex-Plaid CTO Jean-Denis Greze, raised a $108M Series B co-led by Forerunner and Menlo Ventures, reaching a unicorn valuation just four months after public launch.
Town has closed a $108 million Series B round co-led by Forerunner Ventures and Menlo Ventures, with participation from Andreessen Horowitz, Serena Ventures, and First Round Capital. The raise pushes the two-year-old San Francisco startup to a unicorn valuation — an unusually fast milestone given it only launched publicly four months ago. The company says it hit millions of dollars in annual recurring revenue within weeks of launch. Total funding now stands at at least $160 million, following a $55 million Series A in June.
Town was founded by Jean-Denis Greze, former CTO of Plaid. Its core product gives each employee a personal AI assistant called a Townie, which connects to email, calendars, and other work systems. Townies can communicate with each other and share approved information across a company. New to this round: a shared workflow feature that automatically pushes updated business information to all employees' Townies, removing the burden of manual updates. Townies can now also interact with customers and external parties.