Town reaches unicorn status four months after public debut with $108M Series B

Town, a San Francisco-based artificial intelligence startup that has been operating for two years, achieved unicorn valuation status this week following a $108 million Series B funding announcement. Forerunner Ventures and Menlo Ventures jointly led the round. The company's public launch occurred just four months prior, yet it reported reaching millions of dollars in annual recurring revenue within weeks of that debut. The startup's cumulative funding now stands at a minimum of $160 million, following a $55 million Series A disclosed in June.

Jean-Denis Greze, who previously served as CTO at Plaid, founded Town amid a crowded field of AI assistant offerings. The platform focuses on enterprise customers by providing each worker with an AI assistant known as a Townie. These assistants streamline work by integrating with applications including email, calendar systems, and other business-critical software. The Townies can communicate with one another and exchange information that has been approved; additionally, they now possess the capability to engage with external parties and customers beyond the organization.

Town unveiled a shared workflow feature alongside the funding announcement. This capability enables automatic distribution of new business information to employees' Townies, eliminating the need for individual workers to manually refresh their own assistants. Andreessen Horowitz, Serena Ventures, and First Round Capital joined Forerunner and Menlo in participating in the Series B round.