Town raises $108m Series B at a $1bn valuation for team AI assistants

Town raises $108m Series B at a $1bn valuation for team AI assistants

19 October 2026: Town, a San Francisco company that gives every employee an AI assistant able to work with colleagues' assistants, has raised a $108 million Series B that values it at $1 billion. Forerunner Ventures and Menlo Ventures co-led the round, four months after Town launched publicly with a $55 million Series A.

Not yet independently verified. TechCrunch confirms the round and the San Francisco base; the growth figures are Town's own, and it gives no customer counts or use of funds. We will update this when it can be confirmed, and remove this note.

Who invested

Existing investors a16z and First Round Capital took part, with Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures and Sparked Ventures, and angels including Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama and Varun Anand. Shawn Carolan, a partner at Menlo Ventures, said Town "has wisely chosen business over pleasure", calling it the longer route with more demanding requirements but the larger prize.

Assistants that talk to each other

Each person gets an assistant Town calls a Townie, connected to that person's email, documents, calendar and the core systems they work in. It learns their projects, relationships and writing voice, and takes work off their plate. The new part is that Townies can ask each other questions and hand off work, so a request for an updated finance model or app access does not wait in someone's inbox. Each one shares only what its person would share, asks permission when needed and brings decisions back to its human. Townies can also deal with customers, partners and job candidates by email and text, and teams can define shared workflows, so a change to a sales battle card flows into every rep's call preparation.

"AI has made each of us faster on our own. Now, it can make teams faster together," said Jean-Denis Greze, co-founder and chief executive. Tony Vincent is the other co-founder named on the announcement.

What Town says about data and growth

Town routes each task to models from several AI labs to avoid lock-in to one provider, says that "by default, nothing a customer connects trains a model", holds a SOC 2 Type 2 report and publishes its data processing agreement. On growth, it says it reached seven figures of annual recurring revenue within weeks of its June launch, and that since July paying customers have grown fourfold and paying teams ninefold. Our productivity software category lists 12 products.

Company profile on TrustList: Town

Sources

• Town: Town raises $108M at a $1B valuation to bring AI assistants to whole teams, 19 October 2026
• WOWTALE: Town funding coverage, 20 October 2026
• TechCrunch: AI assistant startup Town nabs unicorn valuation four months after launch, 19 October 2026